Australia's Mayne Pharma soars on buyout offer from Cosette Pharmaceuticals

Mayne Pharma

21/02/2025 24:25

** Shares of Mayne Pharma  MYX.AX  rise 33.3% to A$7.25,
their highest level since early-May 2024
    ** Stock set for biggest one-day pct gain since late-June
2016
    ** Co has agreed to sell all its shares to U.S.-based
Cosette Pharmaceuticals through a scheme implementation deed
    ** Offer price at A$7.40 per share, a 37% premium to
February 20 closing price
    ** 3.8 million shares change hands, highest since
mid-December
    ** Stock is up 45.3% YTD

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com;))