For its part, Metsera feels like Pfizer is trying to bully it into accepting a lower price, according to a person familiar with the biotech’s thinking. The individual said that if Pfizer wants Metsera, it needs to raise its offer.
Metsera’s court filing Monday indicated it had previously tried to get Pfizer to do just that. The biotech claims that it received Novo’s offer on Oct. 25, five days before Novo went public with it, and that Metsera told Pfizer about the new offer the same day.
The companies discussed the offer “multiple times over the following days,” Metsera claims, and its lawyers gave Pfizer’s side until 4:30 p.m. on Oct. 29 to submit a competitive revised bid. Otherwise, Metsera’s board would deem Novo’s offer to be superior — triggering a four business-day clock for Pfizer to improve its offer.
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