Bluebird bio receives rival M&A bid worth 50% higher than Carlyle-SK offer
Bluebird Bio Receives Higher Rival Takeover Bid
Bluebird Bio (NASDAQ:
BLUE), a gene therapy company, has received an unsolicited takeover offer from Ayrmid Ltd that surpasses a previous bid2.
Key Details:
- Ayrmid's offer:
$4.50 per share in cash upfront
- Previous Carlyle/SK Capital offer:
$3.00 per share in cash
- Both offers include a contingent value right of $6.84 per share tied to sales milestone
- Ayrmid's bid represents a 50% premium over the Carlyle/SK Capital offer
Background:
- Bluebird previously agreed to be acquired by Carlyle and SK Capital on February 21, 20254
- The company has been facing financial challenges and seeking strategic alternatives4
- Bluebird is known for developing gene therapies for severe genetic diseases4
Next Steps:
- Bluebird's Board of Directors is reviewing the Ayrmid proposal6
- The company remains subject to the existing merger agreement with Carlyle and SK Capital6
- Closing of any deal is expected in the first half of 2025, subject to regulatory approvals and other conditions4
This new bid intensifies the competition for Bluebird Bio and may lead to a potential bidding war in the gene therapy sector3.
Keywords
Gene therapy, takeover bid, Bluebird Bio, Ayrmid, Carlyle, SK Capital, M&A
Key Facts
- Ayrmid offers $4.50 per share vs. Carlyle/SK Capital's $3.00 per share
- Both bids include a $6.84 per share contingent value right
- Bluebird Bio is a pioneer in gene therapy development
- The company has been facing financial challenges
- Board of Directors is reviewing the new proposal
Sources:
2. https://www.cafepharma.com/content/bluebird-bio-receives-rival-ma-bid-worth-50-higher-carlyle-sk-offer
3. https://www.benzinga.com/25/03/44564776/gene-therapy-focused-bluebird-bio-receives-rival-takeover-offer-stock-jumps
4. https://investor.bluebirdbio.com/static-files/bb7ba8cc-8c1b-4786-8161-1738804638b4
6. https://www.biospace.com/press-releases/bluebird-bio-confirms-receipt-of-an-unsolicited-non-binding-proposal-from-ayrmid