Bristol Myers Squibb Completes Cash Acquisition of 2Seventy Bio, Unifying Abecma Under Full BMS Control

• Purchase price: $5.00 per share
• Premium: roughly 88% above the March 7 closing price
• Enterprise value: about $286 million (roughly $102 million net after estimated cash on hand)
• Tender-offer uptake: around 81.8% of outstanding shares tendered
• Aftermath: delisting on May 13 and management changes

Deal overview and key milestones

The transaction was first disclosed on March 11, when Bristol Myers Squibb offered $5.00 per share in cash, representing a substantial uplift versus the prior trading level. The tender offer opened on April 14 and concluded in the night of May 12 with an acceptance rate of about 81.8%. Formal completion occurred on May 13, at which point 2Seventy Bio’s common stock was removed from the NASDAQ. In the wake of the closing, members of the board and senior management resigned, and Bristol Myers Squibb introduced a new leadership team.

Should investors sell immediately? Or is it worth buying 2Seventy Bio?

Impact on Abecma

The strategic aim of the takeover was to secure full control of Abecma (idecabtagene vicleucel), the product that both companies had jointly developed and marketed in the United States. Prior to the deal, 2Seventy Bio had concentrated its efforts on Abecma, and in 2024 it divested several other research programs to Regeneron and Novo Nordisk. The integration is intended to allow Bristol Myers Squibb to devote additional resources to the ongoing development and commercialization of Abecma.

Future milestones for Abecma—such as ongoing clinical trials or potential label expansions—will subsequently be reported under the Bristol Myers Squibb umbrella. Since the delisting, 2Seventy Bio operates as a wholly owned subsidiary of Bristol Myers Squibb; standalone trading and separate reporting are no longer applicable.