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bluebird Board reaffirms unanimous recommendation in support of transaction with Carlyle and SK Capital and recommends all stockholders tender into the current agreement by May 2, 2025
bluebird bio, Inc. (NASDAQ:BLUE) ("bluebird" or "the Company") today announced that after three weeks of engagement, including a timeline extension, Ayrmid Ltd. ("Ayrmid") has not submitted a binding proposal to acquire bluebird and has not obtained necessary financing. In consultation with its financial and legal advisors, the bluebird Board of Directors (the "Board") reaffirms its recommendation in support of the transaction with Carlyle and SK Capital and recommends all stockholders tender into the current agreement by May 2, 2025.
"Ayrmid's proposal remains highly conditional, despite an extension to the previously agreed-upon timeline to complete confirmatory diligence and submit a binding offer," said Mark Vachon, chairman of the bluebird bio Board of Directors. "bluebird has engaged with Ayrmid on two separate occasions—neither of which has resulted in a binding or fully-financed offer. After careful consideration with our financial and legal advisors, discussions with Hercules Capital, and taking into account that absent a significant infusion of capital, bluebird continues to be at significant risk of defaulting on its loan covenants, the Board unanimously reaffirms its support of the previously announced agreement with Carlyle and SK Capital in the strongest possible terms."
Posted In: BLUE
