By Colin Kellaher
Bluebird bio has struck a deal to be acquired by private-equity firms Carlyle Group and SK Capital Partners in a deal potentially worth up to $96 million.
Bluebird on Friday said its investors will receive an initial $3 a share in cash under the deal, along with contingent value rights worth $6.84 a share that would be triggered if the gene-therapy company's current product portfolio achieves $600 million in sales in any trailing 12-month period by the end of 2027.
The potential total value of up to $9.84 a share represents a nearly 40% premium to Thursday's closing price of $7.04 for the Somerville, Mass., company.
The deal is slated to close in the first half of the year.
Trading in shares of bluebird was halted premarket on Friday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 21, 2025 07:59 ET (12:59 GMT)
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