bluebird bio opts to stay with Carlyle/SK takeover offer

US gene therapy company bluebird bio (Nasdaq: BLUE) announced that after three weeks of engagement, including a timeline extension, Ayrmid Pharma has not submitted a binding proposal to acquire bluebird and has not obtained necessary financing.

In consultation with its financial and legal advisors, the bluebird board of directors reaffirms its recommendation in support of the transaction with Carlyle and SK Capital, valuing bluebird at a modest $30 million, and recommends all stockholders tender into the current agreement by May 2, 2025.

Following the announcement, bluebird bio’s already decimated capitalization, once valued at $10 billion, dropped 7.2% to $4.15 per share. The market’s response reflects concerns over bluebird’s financial stability and the potential collapse of a more lucrative acquisition deal.