Overview
- Metsera’s board said Novo Nordisk’s revised proposal is a superior offer, valuing the company at up to about $10 billion with a higher upfront cash payment and contingent value rights.
- Pfizer increased its competing bid to roughly $8.1 billion, offering $60 per share in cash plus a reduced $10 contingent value right from its prior terms.
- Pfizer filed two lawsuits: a Delaware Chancery case alleging breach of contract and fiduciary duty, and a federal antitrust suit claiming Novo’s structure would suppress a nascent competitor.
- Pfizer’s antitrust complaint cites a 30‑month outside date and deal mechanics such as upfront payments, special dividend and non‑voting shares as tactics that could delay closing and skirt review.
- Novo Nordisk and Metsera rejected Pfizer’s allegations as baseless, while Pfizer noted it received early termination of the FTC waiting period for its original deal and expedited hearings are underway.