Akero Therapeutics to be Acquired by Novo Nordisk for up to $5.2 Billion

Core Points - Akero Therapeutics has entered into a definitive agreement to be acquired by Novo Nordisk for up to $5.2 billion in cash [1][2] - Shareholders of Akero will receive $54 per share in cash and a Contingent Value Right (CVR) worth $6 per share upon regulatory approval of efruxifermin (EFX) by June 30, 2031 [2][3] - The upfront cash consideration represents an equity value of approximately $4.7 billion, reflecting a 19% premium to Akero's 30-day Volume Weighted Average Price (VWAP) and a 42% premium to its closing price on May 19, 2025 [3] - The combined upfront and potential CVR payment represents an equity value of approximately $5.2 billion, a 32% premium to Akero's 30-day VWAP and a 57% premium to its closing price on May 19, 2025 [3] - Akero's lead product candidate, EFX, is focused on treating metabolic dysfunction-associated steatohepatitis (MASH) and will benefit from Novo Nordisk's expertise in GLP-1 based metabolic treatments [4][10] - The transaction has been unanimously approved by Akero's Board of Directors and is expected to close around year-end, pending shareholder and regulatory approvals [5] Company Overview - Akero Therapeutics is a clinical-stage company developing treatments for serious metabolic diseases, including MASH, with its lead product candidate being efruxifermin (EFX) [7] - EFX is currently being evaluated in three ongoing Phase 3 clinical studies, which aim to assess its efficacy and safety in various stages of MASH [11][14] - Novo Nordisk is a leading global healthcare company focused on chronic diseases, particularly diabetes, and employs approximately 78,400 people across 80 countries [8]