Bristol Myers Squibb Acquires 2seventy Bio for $286 Million

2seventy bio shares surged following the announcement of its acquisition by Bristol Myers Squibb for $5 per share, representing a 79% premium over its previous closing price. The deal, valued at approximately $286 million, is expected to close in the second quarter of 2025, pending customary conditions. Bristol Myers Squibb and 2seventy bio are partners in the development of the CAR-T cell therapy Abecma, which is approved for treating multiple myeloma in adults. The acquisition aims to leverage Bristol Myers' resources to further enhance the delivery of Abecma to patients. 2seventy bio's CEO expressed gratitude towards the community that supported the development of their therapies, signifying a strategic alignment for the future. The transaction has received unanimous support from 2seventy bio's Board of Directors, recommending shareholders to tender their shares.