(RTTNews) - bluebird bio, Inc. (BLUE), Monday, confirmed it has received an unsolicited non-binding written proposal from Ayrmid Ltd.
The proposal offers to acquire bluebird for an upfront cash payment of $4.50 per share, along with a one-time contingent value right of $6.84 per share, payable upon achieving a net sales milestone.
bluebird bio, which previously entered into a definitive merger agreement with funds managed by Carlyle and SK Capital Partners on February 21, 2025, is still reviewing the Ayrmid Proposal.
The merger agreement with Carlyle and SK Capital Partners offers bluebird $3.00 per share in cash, along with the same contingent value right of $6.84 per share.
The Ayrmid Proposal is subject to certain conditions and further negotiations, including confirmatory diligence. While the board of directors is reviewing the new proposal, bluebird bio remains committed to its current merger agreement with Carlyle and SK Capital Partners.
The board has not changed its recommendation in support of the original merger and will provide updates to stockholders as necessary.
bluebird bio continues to focus on advancing its gene therapy pipeline, which includes therapies for genetic diseases and clinical breakthroughs in gene therapy. The board's review of the new offer is ongoing.
Currently, BLUE is trading at $5.11 up by 24.66 percent on the Nasdaq.
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