M&A

It ditched a planned $627 million union, now US drug maker Cosette must pay more than $13 million toward Mayne Pharma's costs of the legal fallout. Whether it owes the "substantial damages" Mayne is claiming is an issue for another day.

Investment management company Gateway Capital has acquired an industrial property in Western Sydney from US-based real estate platform Greystar for a reported $78 million. 

Vicinity Centres will pay $400 million to acquire the Eastern Creek Quarter retail precinct in Western Sydney from Frasers Property. 

Mayne Pharma cannot access invoices from Cosette’s solicitors at Corrs Chambers Westgarth, with a judge saying he was not hopeful that they would help to resolve a costs fight related to litigation over their collapsed $672 million merger.

An appeal by the buyers of a $2.3 million real estate business on the NSW Central Coast has fallen short, with a court finding that their solicitor's knowledge of a security charge was properly imputed to them. 

Private toll road operator Atlas Arteria has urged shareholders to reject a $7 billion hostile takeover offer from IFM Investors that allegedly undervalues the company.

Ampol has offered to divest 41 sites to win ACCC approval for its $1.1 billion acquisition of EG Australia, after the regulator started a phase two review into the tie-up.

Holding Redlich has advised on the country's first utility scale solar microgrid led by a First Nations cooperative in a remote area of the Northern Territory, a project that will deliver critical energy autonomy in the community.

The ACCC will look deeper at IAG's proposed acquisition of the RACWA's insurance operations for the second time, saying there were concerns the transaction could substantially lessen competition.

Fletcher Building has won approval to sell its construction division to France-based VINCI Construction for NZ$315.6 million.