2seventy bio Inc. (TSVT) agreed to be acquired by Bristol Myers Squibb (BMY) at a price of $5.00 per share in an all-cash transaction. This acquisition values the total equity at approximately $286 million, or $102 million net of estimated cash. The deal represents an 88% premium to the closing price of $2.66 on March 7, 2025.
TSVT closed Monday's regular trading at $2.80 up $0.14 or 5.26%. In the after-hours trading, the stock further gained $0.10 or 3.56%.
2seventy bio's Board of Directors unanimously recommends that 2seventy bio stockholders tender their shares in the tender offer.
In connection with the execution of the merger agreement, certain stockholders of 2seventy bio owning approximately 5.3% of the outstanding shares of 2seventy bio's common stock have entered into tender and support agreements pursuant to which they have agreed to tender all of their owned shares in the offer.
The closing of the transaction is expected to occur in the second quarter of 2025.Following the completion of this transaction, 2seventy bio's common stock will no longer be listed for trading on Nasdaq.
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