Bluebird bio to be taken private by Carlyle and SK Capital amid cash crunch (updated)

bluebird bio

21/02/2025 12:58

(Adds details on deal in paragraph 3)
       Feb 21 (Reuters) - Gene therapy maker Bluebird bio
 BLUE.O  said on Friday it would be taken private by Carlyle
 CG.O  and SK Capital Partners, ending its tumultuous journey in
the public markets as it struggled with a severe cash crunch. 
    Bluebird bio, which raised going concern doubts for the
first time three years ago, laid off about 25% of its workforce
in 2024 to support the launch of some of its gene therapies,
including a closely watched treatment for sickle cell disease.  
  
    Under the latest agreement, bluebird stockholders will
receive $3 per share in cash, implying an equity value of $29.16
million. The investment firms have also offered an additional
$6.84 per share, contingent upon achieving certain sales
milestones, which represents a payment of about $66.48 million. 
    

 (Reporting by Sneha S K; Editing by Shinjini Ganguli)
 ((Sneha.SK@thomsonreuters.com;))