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Novo Nordisk hijacks Pfizer with bid for U.S. biotech Metsera
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Denmark’s Novo Nordisk said on Thursday it has made an unsolicited bid for U.S. drug maker Metsera, after Pfizer last week made an offer for the company.
Novo said it had offered $56.50 per share in cash for Metsera, corresponding to an enterprise value of $6 billion, while Pfizer last week said it would pay $47.50 per share in cash, representing $4.9 billion in enterprise value.
Both Novo and Metsera also offered contingent value rights (CVRs) that could add several billion dollars to the purchase price, based on the achievement of clinical and regulatory milestones.