{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-235919","form_type":"8-K","ticker":null,"cik":"0001744659","company_name":"Akero Therapeutics, Inc.","filed_at":"2025-10-09T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.324210+00:00","generated_at":"2026-05-17T04:12:39.139689+00:00","sec_items":["1.01","5.03","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Akero to be acquired by Novo Nordisk for up to $5.2B; $54/share cash + $6 CVR","bullets":["Shareholders get $54.00 cash per share at closing (equity value ~$4.7B) plus a CVR worth up to $6.00 per share if FDA approves efruxifermin for MASH-cirrhosis by June 30, 2031.","Total potential equity value ~$5.2B; upfront cash represents a 19% premium to 30-day VWAP and 42% to pre-speculation close on May 19, 2025.","Merger expected to close around year-end 2025, subject to Akero shareholder vote, antitrust clearance, and other conditions.","Termination fees: Akero pays $165M under certain circumstances; Novo Nordisk pays $185M reverse fee if antitrust conditions not met.","Board adopted forum selection bylaw amendment on October 8, 2025; transaction will supplement Novo Nordisk's GLP-1 metabolic portfolio."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-235919","json":"https://secwatch.observer/filing/0001193125-25-235919.json","markdown":"https://secwatch.observer/filing/0001193125-25-235919.md","text":"https://secwatch.observer/filing/0001193125-25-235919.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1744659/000119312525235919/0001193125-25-235919-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1744659/000119312525235919/d42650d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T04:12:39.139689+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"9491745a4529ee73b4b8497e39d33de81f94b880","claim":"Akero Therapeutics, Inc.: The Company amended its Bylaws to update the forum selection provision in Article VI, Section 8 (effective 2025-10-08).","evidence_excerpt":"On October 8, 2025, the Board approved and adopted an amendment (the “ Forum Selection Amendment ”) to the Company’s existing Bylaws that amends and replaces the existing Article VI, Section 8 forum selection provision. The Forum Selection Amendment is filed as Exhibit 3.1 hereto and incorporated by reference herein.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1744659/000119312525235919/0001193125-25-235919-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"bylaw amendment"},{"label":"Effective","value":"2025-10-08"}],"fact_type":"governance_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}