By Chris Wack
Bluebird bio shares were 23% higher, at $5.03, after the company said it received an unsolicited, non-binding written acquisition proposal from Ayrmid.
Ayrmid has offered to buy bluebird for an upfront cash payment of $4.50 a share and a one-time contingent value right of $6.84 a share, payable upon achievement of a net sales milestone, said Somerville, Mass.-based bluebird on Monday.
On Feb. 21, bluebird agreed to be bought and taken private by funds managed by global investment firms Carlyle and SK Capital Partners for $3 a share in cash and a one-time contingent value right of $6.84 per share payable upon achievement of a net sales milestone.
Bluebird previously engaged in discussions with Ayrmid as part of its comprehensive review of strategic alternatives, although Ayrmid didn't submit any proposal to bluebird as part of that process, bluebird said.
Bluebird said its board of directors is reviewing the Ayrmid Proposal in consultation with its legal and financial advisors.
The stock hit its 52-week low of $3.56 on Feb. 24, and is down over 80% in the past 12 months.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
March 31, 2025 09:52 ET (13:52 GMT)
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