2seventy bio to be Acquired by Bristol Myers Squibb in an $88% Premium Deal
Deal News | Mar 11, 2025 | Goodwin
In a significant move, Bristol Myers Squibb (BMS) is set to acquire all outstanding shares of 2seventy bio at a price of $5.00 per share, representing an 88% premium over the company's closing stock price on March 7, 2025. This all-cash transaction follows a definitive merger agreement, marking an important strategic acquisition for BMS in the biotechnology and pharmaceuticals sector. The process will involve a tender offer, encouraging 2seventy bio's shareholders to tender their shares. Legal advisory for this deal was provided by Goodwin, led by their M&A team. Completion of the acquisition is anticipated in the second quarter of 2025, subject to standard regulatory approvals and the conditions outlined in the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Once finalized, 2seventy bio's common stock will cease trading on Nasdaq.
Sectors
- Biotechnology
- Pharmaceuticals
Geography
- United States – Both companies involved in the transaction, Bristol Myers Squibb and 2seventy bio, are based in the United States, making this a significant geographical focus for the deal.
Industry
- Biotechnology – The industry is involved with innovative therapies and drug development, which is pertinent as 2seventy bio operates in this sector.
- Pharmaceuticals – This sector is relevant as Bristol Myers Squibb is a leading pharmaceutical company acquiring 2seventy bio.
Financials
- $5.00 per share – The price per share Bristol Myers Squibb is offering to acquire all outstanding shares of 2seventy bio.
- 88% premium – The premium over 2seventy bio's closing stock price of $2.66 on March 7, 2025, reflects the attractiveness and strategic importance of the acquisition for BMS.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| 2seventy bio | Target Company | Company | 2seventy bio is a biotechnology firm focused on developing innovative therapies, and the target of the acquisition by Bristol Myers Squibb. |
| Bristol Myers Squibb | Bidding Company | Company | Bristol Myers Squibb is a global biopharmaceutical company acquiring 2seventy bio to enhance its therapeutic portfolio. |
| Goodwin | Legal Advisor | Company | Goodwin is the law firm advising on the merger, specifically through its M&A team. |