Carlyle and SK Capital to acquire bluebird bio

WASHINGTON & NEW YORK - Investment firms Carlyle (NASDAQ: CG) and SK Capital Partners, along with Beacon Parent Holdings, L.P., have successfully completed their tender offer to acquire all outstanding common stock of biotechnology company bluebird bio, Inc. (NASDAQ: BLUE). The acquisition, valued at either $3.00 per share plus a contingent value right or $5.00 per share in cash, is set to be finalized through a merger on June 2, 2025.

As reported by Equiniti Trust Company, the depositary for the offer, approximately 59.8% of bluebird’s common stock was validly tendered by the expiration time on May 29, 2025, meeting the conditions for the acquisition. The transaction is expected to proceed without a vote from bluebird stockholders, in line with Delaware’s General Corporation Law. InvestingPro subscribers can access detailed analysis of similar M&A opportunities through comprehensive Pro Research Reports available for over 1,400 US stocks.

bluebird bio, established in 2010, has been a leader in gene therapy, with three FDA-approved therapies within two years. The company focuses on severe genetic diseases and has developed a significant ex-vivo gene therapy data set. Despite impressive revenue growth of 127% in the last twelve months, InvestingPro data shows the company faces significant financial challenges with a debt-to-capital ratio of 0.82 and a current ratio of 0.55. Carlyle, with $453 billion of assets under management, and SK Capital, managing approximately $9 billion in assets, are poised to leverage bluebird’s scientific and commercial expertise post-acquisition.

The press release included forward-looking statements about the anticipated benefits of the merger, bluebird’s financial prospects, and the commercialization of its products. These statements are subject to various risks and uncertainties, including the potential challenges in bluebird’s product manufacturing and commercialization, and the need for additional funding.

Investors are cautioned not to place undue reliance on these forward-looking statements, which reflect beliefs and expectations as of the date of the press release. The information for this article is based on a press release statement.

In other recent news, bluebird bio, Inc. has announced an amended buyout agreement with Carlyle and SK Capital Partners, offering stockholders a choice between the original deal of $3.00 per share with a contingent value right (CVR) of $6.84 per share or a new option of $5.00 per share in cash. This development provides immediate liquidity to shareholders who prefer upfront cash over potential future payments. The bluebird board of directors has unanimously recommended accepting the updated offer, as it represents the only viable option for shareholders amidst the company’s financial challenges. The transaction has received all necessary regulatory approvals, and Carlyle and SK Capital anticipate a swift completion once the tender offer concludes successfully.

The tender offer has been extended to allow shareholders additional time to consider their options, with approximately 2.28 million shares already tendered. Despite an unsolicited proposal from Ayrmid, Ltd. offering $4.50 per share upfront, Ayrmid failed to present a binding offer or secure financing, leading bluebird to uphold the Carlyle and SK Capital agreement. The board emphasizes the importance of this agreement to avoid potential default on loan covenants and ensure shareholder value. Investors are advised to tender their shares by the extended deadline, as per the board’s recommendation.

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