Tuesday, 02 January 2024 12:17 GMT

Metsera Stock Surges 59% Pre-Market After Pfizer Confirms Acquisition Here Are The Details


(MENAFN- AsiaNet News)

Pfizer Inc. (PFE) on Monday said that it will acquire biopharmaceutical company Metsera (MTSR) for $47.50 per share in cash at closing.

The upfront purchase price of $47.50 per share represents a premium of about 43% from Metsera's closing share price on Friday. The deal represents a total enterprise value of approximately $4.9 billion for Metsera.

Metsera shareholders will also receive a non-transferable contingent value right (CVR) entitling holders to potential additional payments of up to $22.50 per share in cash tied to three specific clinical and regulatory milestones. The transaction is expected to close in the fourth quarter of 2025, subject to the satisfaction of customary closing conditions.

Shares of Metsera soared 59% in the pre-market session at the time of writing. 

Get updates to this developing story <directly on Stocktwits.

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