Metsera M&A Update: Novo Nordisk Declared Superior Offer

Metsera announced its Board determined the revised proposal from Novo Nordisk (NN) constitutes a “Superior Company Proposal” versus the existing Pfizer merger agreement.

• Novo Nordisk (NN) Revised Offer:

  • Cash/Dividend Package: $62.20/share cash plus an immediate $62.20/share dividend.
  • CVR Potential: Increased to up to $24.00/share.
  • Total Valuation: Up to $86.20/share (~$10.0B).

• Pfizer Revised Counter: Increased upfront cash to $60.00/share, but significantly decrease