Metsera (MTSR) received higher offers from Pfizer (PFE) and Novo Nordisk (NVO) in a bidding war for the obesity drugmaker.
Metsera (MTSR) said that Novo Nordisk’s (NVO) bid is still superior to Pfizer’s (PFE), according to a statement on Tuesday. Pfizer has two business days to negotiate better terms.
Novo Nordisk (NVO) raised its bid to a total of $86.20 a share, or a total of $10 billion. Novo Nordisk offered to pay $62.20 a share, up from $56.50. Metsera holders would also receive a contingent value right of up to $24 a share in cash, up from $22.50.
Metsera said the Novo Nordisk (NVO) bid is superior to Pfizer’s latest offer, which is valued at as much as $70 a share, for a total of $8.1 billion.
Shares of Novo Nordisk (NVO) fell 1.8%.