Lates News

According to The Wall Street Journal, on November 5th, Pfizer is preparing to once again increase its acquisition offer for Merck in the United States Eastern Time. Pfizer initially reached an agreement in September to acquire Merck for $4.9 billion. On October 30th, Novo Nordisk's acquisition offer shocked Wall Street and Pfizer, leading to further competition between the two pharmaceutical giants. Judge Morgan Zahn of the Delaware Chancery Court ruled on Wednesday that Pfizer did not raise any reasonable objections to Novo Nordisk's attempt to replace it as the acquirer of Merck, based in New York, and therefore refused to block the Danish company from continuing with the deal. Pfizer had raised its initial acquisition offer earlier this week and is currently working on multiple fronts to maintain control of Merck. Novo Nordisk agrees with the court's ruling and believes its acquisition offer is in the best interest of Merck shareholders.