Novo Nordisk will not increase its proposal to acquire Metsera, Inc.

Core Viewpoint - Novo Nordisk has confirmed it will not increase its offer to acquire Metsera, despite previous proposals being declared superior by Metsera's board of directors [1][4]. Group 1: Acquisition Proposals - On October 30, 2025, Novo Nordisk submitted an unsolicited proposal to acquire Metsera, which was declared superior by Metsera's board [1]. - An updated proposal was submitted on November 4, 2025, offering $62.20 per share in cash, totaling approximately $7.2 billion in equity value and $6.7 billion in enterprise value, along with contingent value rights (CVRs) of up to $24.00 per share, potentially adding up to $2.8 billion based on certain milestones [2]. - A revised proposal was made on November 6, 2025, increasing the offer to $65.60 per share in cash, equating to about $7.6 billion in equity value and $7.1 billion in enterprise value, with CVRs of up to $20.65 per share, potentially worth up to $2.4 billion [3]. Group 2: Strategic Positioning - Novo Nordisk emphasizes that its merger agreement structure complies with antitrust laws and reflects its commitment to financial discipline and shareholder value [4]. - The company is focused on advancing a diverse pipeline of treatment options for obesity and is committed to investing in next-generation assets to address the needs of individuals with diabetes and obesity [5].