2seventy bio rises on Bristol Myers buyout deal
ReutersMar 11, 2025 9:12 AM
Shares of cancer therapy maker 2seventy bio TSVT.O rise 76.07% to $4.93 premarket
Late on Monday, co said drugmaker Bristol Myers Squibb BMY.N to acquire all of the outstanding shares of TSVT at a price of $5.00 per share in an all-cash deal for a total equity value of about $286 million
The offer represents an 88% premium to TSVT's closing price of $2.66 on March 7
Deal expected to close in Q2 2025
TSVT is in partnership with BMY for CAR T cell therapy Abecma
TSVT shares fell ~31% in 2024
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