Metsera Deems Novo Nordisk's $10 Bln Offer Superior To Pfizer's Revised Bid

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(RTTNews) - Metsera, Inc. (MTSR), a biotechnology company, Tuesday announced that the revised acquisition proposal received from pharmaceutical major Novo Nordisk A/S (NVO) is superior to Pfizer's revised bid.

Novo Nordisk's proposal will pay the company $62.20 per Metsera common share in cash (up from $56.50) along with certain amounts in respect to Metsera employee equity and transaction expenses. In turn, Metsera will declare a dividend of $62.20 per Metsera common share in cash (up from $56.50).

Metsera shareholders will also receive a contingent value right up to $24 per share in cash based on development and regulatory approval milestones.

This brings the proposal value up to $86.20 per share for a total of approximately $10 billion representing around 159 percent premium to Metsera's closing price as of September 19, 2025, the last trading day before the Pfizer transaction was announced.

Following this, Pfizer now has two business days to negotiate with Metsera under the terms of the Pfizer Merger Agreement.

Previously, Pfizer had proposed a consideration of $60 per share in cash (up from $47.50) and decreased the amount payable under the CVR to up to $10 per share in cash (down from $22.50) on November 3.

Metsera is also entitled to terminate its Pfizer Merger Agreement if it considers Novo Nordisk's proposal to be superior.

Currently Metsera shares are trading at $68.67, up 13.07 percent on the Nasdaq, whereas NVO shares are trading at $48.24, down 1.47 percent and Pfizer shares are trading at $24.76, up 0.25 percent on the New York Stock Exchange.