Pfizer To Raise Metsera Bid After Court Denies Attempt To Block Rival Deal

Core Viewpoint - The Delaware Chancery Court has denied Pfizer Inc.'s request for a temporary restraining order against Metsera, Inc., allowing Metsera to consider a competing proposal from Novo Nordisk A/S [1][4]. Group 1: Legal Proceedings - Pfizer claims that Metsera has breached its contractual obligations and asserts that Novo Nordisk's proposal is illegal and cannot be considered superior [2]. - The FTC has warned that the transaction between Metsera and Novo Nordisk could face legal challenges, including potential penalties and the unwinding of the deal [3][4]. Group 2: Market Reactions - Following the court's decision, Metsera's stock rose by 13.4% to $80.98, while Pfizer's stock increased by 1.5% to $24.98, and Novo Nordisk's stock fell by 2.35% to $47.32 [7]. - Pfizer is reportedly preparing to raise its bid for Metsera in response to Novo Nordisk's latest offer, which has been increased to $86.20 per share [5].