The M&A team advised 2seventy bio (Nasdaq: TSVT) in its definitive merger agreement under which Bristol Myers Squibb (NYSE: BMY) (“BMS”) will acquire all of the outstanding shares of 2seventy bio at a price of $5.00 per share in an all-cash transaction. The deal represents an 88% premium to the closing price of $2.66 on March 7, 2025.
Under the terms of the agreement, BMS will promptly commence a tender offer to acquire all outstanding shares of 2seventy bio at a price of $5.00 per share in an all-cash transaction. 2seventy bio’s Board of Directors unanimously recommended that 2seventy bio stockholders tender their shares in the tender offer.
The closing of the transaction is expected to occur in the second quarter of 2025 and is subject to customary closing conditions, including the tender of a majority of the outstanding shares of 2seventy bio’s common stock and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Following the completion of this transaction, 2seventy bio’s common stock will no longer be listed for trading on Nasdaq.
The Goodwin team was led by Michael Bison and Robert Masella and partners Gregg Katz, Mark Opper and Tevia Pollard. The team included William Stanton, Nathalie Dabrowski, Andrea Akinbola, Kaitlyn Buffaloe, Benjamin Colao, Nicole Tom, Katie Hand, Lauren Avery, Shannyn Henke, Katerina Stavrianidis, Alexandra Denniston, Jacquelyn Watson, Benjamin Kurrass, Caroline Bullerjahn, Christina Ademola, Arman Oruc, Simone Waterbury, Sarah Jordan, Anuj Ghai, Arom Yun, Timothy Holahan, Lauren NuDelman, Chad Vella, Justin Pierce, Guckaya Gozde, Steven Tjoe, Javier Gonzalez Rivera, Roger Cohen, Dustin Schaefer, Nicole Brock, Julie Tibbets, Kevin Grumberg, Lindsay Thomas, Robert Carroll, Alicia Rubio-Spring, Dan Karelitz, Shlomo Gottesman, and Brian Mukherjee.
For additional details on the agreement, please read the press release.