2seventy bio, Inc. (TSVT) entered a merger agreement on March 10, 2025, to be taken private by Bristol-Myers Squibb Company (BMY) in an all-cash deal valued at $286 million.
Under the terms of the agreement, Bristol Myers Squibb will commence a tender offer to acquire all outstanding shares of 2seventy bio for $5.00 per share in an all-cash transaction, representing a 78.57% premium from the stock’s last close.
2seventy bio is a cell and gene therapy company dedicated to developing innovative cancer treatments, including FDA-approved CAR T cell therapies for multiple myeloma, aiming to accelerate breakthroughs and give patients more time.
Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops, and markets innovative treatments for cancer, cardiovascular, immunology, and other serious diseases.
2seventy bio had a collaboration arrangement with Bristol-Myers for Abecma.
Abecma is a CAR T cell therapy for multiple myeloma, jointly developed and commercialized in the U.S. by 2seventy bio and Bristol Myers Squibb, with ongoing clinical studies exploring its use in earlier treatment lines.
The deal is expected to close in the second quarter of 2025.
Goldman Sachs served as the financial advisor, while Goodwin Procter provided legal counsel to 2seventy bio.
The purchase of 2seventy bio by Bristol Myers Squibb is at 3.03 times sales.
For a more comprehensive breakdown of this M&A transaction, please visit:
Deal Metrics for the acquisition of 2seventy bio, Inc. (TSVT) by Bristol-Myers Squibb Company (BMY)
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Editor’s Note: Baranjot Kaur contributed to this article