Good evening,

Drugmaker Mayne Pharma Group, which has lost 59 per cent of its sharemarket value over the past five years, is giving some thought to life away from the ASX boards.

Street Talk understands Jefferies Australia has been quietly marketing the $376 million company to prospective buyers in the hope of securing a juicy payday for Mayne’s long-suffering shareholders, including Viburnum Funds and pub baron Bruce Mathieson.

Sources said that although the investment bank had been providing Mayne’s Frank Condella-chaired board with defence advice for a couple of years, its role had broadened to canvassing inbound interest as Mayne’s topline started to improve.

Of note, Street Talk is not suggesting that Mayne has received a takeover proposal that would require disclosure. But, almost 90 per cent of Mayne’s revenue comes from ex-Australia customers, including 83 per cent from the United States, making it difficult to prosecute a strong argument for keeping the company wedded to the local bourse.

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Australian shares edged up in a choppy session, as investors pondered the implications of US President-elect Donald Trump’s tariff and pro-growth policy promises that unleashed euphoria on Wall Street.

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