Bluebird Bio falls after Ayrmid fails to give binding offer

bluebird bio

16/04/2025 13:54

** Shares of gene therapy firm Bluebird Bio BLUE.O down 8.7% at $4.08 premarket

** BLUE says privately held UK company Ayrmid Ltd has not submitted binding proposal to acquire it and has not obtained necessary financing

** Co in March received non-binding offer from Ayrmid for up to $110.5 million

** BLUE adds it continues to be at significant risk of defaulting on its loan covenants

** Co's board reaffirms its recommendation in support of transaction with Carlyle CG.O and SK Capital, while recommending all stockholders tender into current agreement by May 2

** BLUE agreed to be taken private by Carlyle and SK Capital Partners at discount in February

** As of last close, stock has fallen 46.4% YTD

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))