TSVT Up on Acquisition Agreement With BMY for $286 Million

Shares of 2seventy bio, Inc. (TSVT) gained 5.26% after the company announced a definitive merger agreement with Bristol Myers Squibb (BMY) .Per the terms of the deal, BMY will acquire all of the outstanding shares of 2seventy bio for $5.00 per share in an all-cash transaction for a total equity value of approximately $286 million, or $102 million net of estimated cash. The deal represents an 88% premium to TSVT’s closing price of $2.66 on March 7, 2025.Investors cheered the premium offered and shares gained ...