The Delaware Chancery Court denied Pfizer Inc.’s (NYSE:PFE) request for a temporary restraining order to prevent Metsera, Inc. (NASDAQ:MTSR)  from terminating the existing merger agreement in favor of a competing proposal from Novo Nordisk A/S (NYSE:NVO).

Pfizer responded: “We remain confident in the merits of our claims and our belief that Metsera has acted in breach of its contractual obligations…We are confident that Novo Nordisk’s unprecedented and illegal scheme to circumvent antitrust scrutiny will not stand. Novo Nordisk’s proposal is illusory and cannot constitute a superior proposal…"

Antitrust regulators in the U.S. and abroad “will not tolerate” Novo Nordisk’s attempt to “potentially gain the ability ...