bluebird bio confirms rival takeover bid

US gene therapy company bluebird bio (Nasdaq: BLUE) has confirmed receipt of an unsolicited non-binding written proposal from Ayrmid Pharma to acquire the company for up to $110.5 million, sending the firm’s shares up 7.6% by close and a further 9% to $4.45 in after-hours trading on Friday.

The Ayrmid offer comprises an upfront cash payment of $4.50 per share and a one-time contingent value right of $6.84 per share payable upon achievement of a net sales milestone.

As previously announced on February 21, 2025, bluebird entered into a definitive agreement with funds managed by global investment firms Carlyle and SK Capital Partners, to be acquired and taken private for $3.00 per share in cash and a one-time contingent value right of $6.84 per share payable upon achievement of a net sales milestone, contingent upon certain offer conditions. bluebird previously engaged in discussions with Ayrmid as part of its comprehensive review of strategic alternatives. Ayrmid did not submit any proposal to bluebird as part of that process. The Ayrmid proposal is subject to certain conditions and further negotiations between the parties, including confirmatory diligence.