bluebird bio, Inc., Carlyle, and SK Capital Partners announced on May 14, 2025, an amendment to their definitive agreement for the acquisition of bluebird bio. Under the revised terms, bluebird stockholders can now elect to receive either the original offer of $3.00 per share in cash plus a contingent value right (CVR) of $6.84 per share, or an alternative of $5.00 per share in cash with no CVR.
This amended offer provides stockholders with greater upfront cash consideration, addressing potential preferences for immediate liquidity over future contingent payments. Any shares tendered without a specific election will receive the original consideration of $3.00 per share in cash plus a CVR.
The bluebird board of directors unanimously approved the amended agreement, reaffirming its recommendation for the transaction. The board emphasized that this amended deal represents the only viable option for stockholders to receive consideration for their shares, highlighting the risk of defaulting on loan agreements if a majority of shares are not tendered. The tender offer expiration date has been extended to May 29, 2025.
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