Novo Nordisk and Pfizer Revise Bids in Metsera Acquisition Tug-of-War

Novo Nordisk and Pfizer have increased their offers in an intense acquisition battle for Metsera, an obesity drug developer. Novo Nordisk's revised proposal places the deal value at $10 billion, while Pfizer raises its offer to $8.1 billion.

The competition escalates as Pfizer files two lawsuits against Metsera, its board, and Novo Nordisk. The first lawsuit argues that Novo's proposal violates Pfizer's existing merger agreement and seeks to evade antitrust scrutiny. A court hearing is scheduled for later today as Pfizer aims to prevent Metsera from terminating the agreement.

In addition to Novo's higher base offer, the company now promises an extra $24.00 per share in cash contingent on future development and regulatory milestones, an increase from the previous $21.25 offer.