bluebird bio Inc (BLUE) News & EventsBLUENews & Eventsbluebird bio Inc

Bluebird Bio, SK Capital Partners amend merger agreement

Bluebird Bio and SK Capital Partners announced they have amended their definitive agreement pursuant to which Carlyle and SK Capital will purchase all of the outstanding shares of bluebird. Under the terms of the amended agreement bluebird stockholders can elect to receive either the original offer of $3.00 per share in cash plus a contingent value right of $6.84 per share in cash payable upon achievement of a net sales milestone or $5.00 per share in cash. The amended offer price provides an alternative for stockholders who would prefer greater upfront cash consideration instead of the potential upside of the CVR. Any shares tendered for which no election is made will receive the original consideration of $3.00 per share in cash and a contingent value right per share. The bluebird board of directors unanimously approved the amended agreement and recommends that all stockholders immediately tender their shares in support of the transaction. The bluebird board of directors continues to believe that the transaction with Carlyle and SK Capital, as amended, represents the only viable option for stockholders to receive consideration for their shares. Absent a majority of stockholders tendering, bluebird is at significant risk of defaulting on its loan agreements with Hercules Capital, and it is extremely unlikely that stockholders would receive any consideration for their shares in a bankruptcy or liquidation. In connection with the amended agreement, the expiration date of the tender offer has been extended to expire at one minute after 11:59 p.m., New York City time, on May 29. Equiniti Trust Company, the depositary for the offer, has advised that as of the close of business on May 13, approximately 2,281,724 shares of bluebird common stock have been validly tendered and not properly withdrawn pursuant to the offer.

Carlyle, SK receive approvals to complete Bluebird Bio acquisition

Bluebird Bio (BLUE), Carlyle (CG), SK Capital Partners, and Beacon Parent Holdings announced that all required regulatory approvals to complete the previously announced acquisition of the Company by Carlyle and SK Capital have been received. No further regulatory approvals are required to complete the transaction. The parties expect to complete the merger promptly following the successful completion of the ongoing tender offer, which is scheduled to expire one minute after 11:59 p.m. New York City time on May 12, 2025, unless the tender offer is further extended or earlier terminated. Under the terms of the merger agreement, stockholders will receive an upfront payment of $3.00 per share in cash and a contingent value right of $6.84 per share in cash payable upon achievement of a net sales milestone, for a total potential value of $9.84 per share. The bluebird board of directors unanimously recommends that stockholders tender into the offer.