M&A · Healthcare · Pharmaceutical Preparations
Pfizer Inc to acquire Metsera, Inc.
Announced Sep 22, 2025 · Closed Nov 13, 2025
Deal value$4.90BEV $4.90B
Premium43.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$47.50 per share
Transaction
- Acquirer
- Pfizer Inc (PFE)
- Target
- Metsera, Inc. (MTSR)
- Buyer type
- Strategic
- Offer price per share
- $47.50
- Enterprise value
- $4.90B
- Status
- Closed Nov 13, 2025
Deal protections
- Break fee (target pays)
- $190M · 3.9%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Citigroup
- To the target
- Guggenheim, Goldman Sachs
- Guggenheim fee
- $30.0M
Sector context · Healthcare
- Comparable deals
- 95 in the prior 24 months
- Premium
- 43.0% vs. 67.0% sector median
- EV / Adj. EBITDA
- Sector median 14.5x
- Break fee
- 3.9% vs. 3.3% sector median
Timeline
- AnnouncedSep 22, 2025
- Proxy filedOct 6, 2025
- Definitive proxyOct 17, 2025
- Shareholder voteNov 12, 2025
- ClosedNov 13, 2025
Valuation · fairness opinions
Discounted cash flowGoldman Sachs$39.76$49.85
Premiums paidGoldman Sachs$46.65$64.97
Discounted cash flowGuggenheim$41.09$51.52
Discounted cash flowGuggenheim$47.31$62.97
Analyst price targetsGuggenheim$46.93$72.28
Offer $47.50
Implied value per Metsera, Inc. share by analysis, from Goldman Sachs and Guggenheim · DCF discount rate 13%–15%.