(Reuters) -Australia’s Mayne Pharma said on Friday it had received a letter from its potential acquirer, Cosette, indicating that the country’s treasurer is considering blocking the A$672 million ($436.67 million) proposed buyout of the company.

Shares in Mayne Pharma were down 30.7% at A$4.3, as of 0015 GMT. The stock slumped nearly 40% to A$3.81 in its weakest intraday performance, and touched the lowest point since August 2024.

According to the letter, the treasurer had indicated its “preliminary view was that the proposed acquisition would be contrary to the national interest”, as it could negatively impact the Australian economy and community.

Cosette has been trying to terminate its offer, after the U.S.-based company said in May that it would review the deal because of a “materia

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