Bluebird Bio Receives Acquisition Offer
bluebird bio, Inc. confirmed it has received an unsolicited non-binding written proposal from Ayrmid Ltd to acquire bluebird for an upfront cash payment of $4.50 per share and a one-time contingent value right of $6.84 per share payable upon achievement of a net sales milestone
The deal values Bluebird at a fraction of its worth several years ago, when it had a market capitalization in the billions of dollars. But it’s higher than the roughly $30 million bid submitted in February by private equity firms Carlyle Group and SK Capital. The two firms are similarly offering a $6.84 per share contingent value right payment for Bluebird, but only a $3 per share upfront cash payout.For now, bluebird’s board has not changed its mind, and the company remains bound by the original merger agreement. But it’s willing to look at the new unsolicited nonbinding written proposal.
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