Adding more drama to Metsera Inc.’s (NASDAQ:MTSR) acquisition deal, Novo Nordisk A/S (NYSE:NVO) increased the deal proposal to $62.20 per share in cash, up from $56.50.

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Metsera said the amended proposal constitutes a “Superior Company Proposal.”

Additionally, Metsera would issue Novo Nordisk non-voting preferred stock representing 50% of Metsera’s share capital.

On the same day, Metsera would declare a dividend of $62.20 per share in cash (up from $56.50).

Metsera shareholders could receive a contingent value right representing up to $24 per share in cash (up from $22.50) based on development and regulatory approval milestones, the same as those agreed in the ...