Bluebird Bio (BLUE) said Wednesday its board reaffirmed its support for its planned acquisition by Carlyle (CG) and SK Capital as Ayrmid has not sent a binding or fully financed offer after three weeks of engagement, including a timeline extension.
Bluebird said Ayrmid's proposal remained "highly conditional" even after it engaged with Ayrmid on two occasions.
The company said it has recommended that all stockholders tender by May 2 into the current agreement with Carlyle and SK Capital.
Under the deal announced in February, Bluebird agreed to be acquired and taken private by funds managed by Carlyle and SK Capital for $3 a share in cash and a one-time contingent value right of $6.84 a share payable upon achieving a net sales milestone.
Shares of Bluebird were down more than 6% in recent trading Wednesday.
Price: 4.19, Change: -0.28, Percent Change: -6.26
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