- Novo Nordisk proposes to acquire Metsera for $56.50 per share.
- The deal includes contingent value rights up to $21.25 per share.
- The acquisition targets Metsera's incretin and non-incretin peptide programs.
- The proposal is under review by Metsera's board.
Acquisition Proposal
Novo Nordisk has submitted an unsolicited proposal to acquire Metsera, Inc. The acquisition aims to leverage Metsera's early and development-stage incretin and non-incretin analogue peptide programs.
Financial Terms
The proposal offers $56.50 per share in cash for all outstanding shares of Metsera's common stock, totaling an approximate equity value of $6.5 billion. Additionally, contingent value rights (CVRs) up to $21.25 per share, or approximately $2.5 billion, are included based on achieving specific clinical and regulatory milestones.
Transaction Structure
The cash consideration will be paid at signing in exchange for non-voting preferred stock representing 50% of Metsera's share capital. The CVRs will be issued upon the closing of the acquisition for the remaining shares.
Board Review
The proposal is currently under review by Metsera's board of directors.
