Pharmaceutical giant Pfizer’s stock price surged on Friday due to its approval of a multibillion-dollar merger deal with rival company Metsera, despite Novo Nordisk making an unsolicited takeover bid. Novo Nordisk has filed a lawsuit in Delaware Chancery Court seeking to block the deal after Pfizer rejected its bid, citing that it is not reasonably likely to be completed on the proposed terms.
Source: https://www.wsj.com/health/pharma/pfizer-sues-seeking-to-block-novo-nordisks-effort-to-undo-weight-loss-drug-deal-929710b2