Metsera
Novo Nordisk’s Killer Non-Acquisition Merger Contract Proposal Is a Case of “Heads I Win, Tails You Lose”
Steve Salop explores the anticompetitive innovation behind weight-loss giant Novo Nordisk’s offer to acquire Metsera. Novo’s proposed contract presents a new tactic by which firms with market power can preclude rival mergers that will lead to procompetitive entry.
