Bluebird Bio Announces Amended Tender Offer with Carlyle and SK Capital
Deal News | May 16, 2025 | The Carlyle Group
Carlyle, SK Capital Partners, and bluebird bio have updated instructions for stockholders regarding the tender offer due to an amended agreement. Stockholders who previously tendered their shares must re-tender and select between two compensation options. The amended deal gives bluebird stockholders the choice between $3.00 per share plus a contingent value right (CVR) of $6.84 per share, or an all-upfront cash offer of $5.00 per share. The bluebird board recommends this transaction as it represents the best and only viable option to provide value to stockholders in light of potential financial difficulties. Recently secured regulatory approvals suggest the transaction will complete shortly after the deadline for the tender offer, set for May 29, 2025. Bluebird bio, an established gene therapy firm, is navigating this acquisition with an eye on avoiding financial default which would jeopardize shareholder returns. The tendering process requires strict adherence to new instructions to ensure validity, as shares not re-tendered correctly may be treated as withdrawn. The deal underscores Carlyle's and SK Capital's strategic investments in life sciences and specialty sectors while addressing bluebird's current financial quandaries.
Sectors
- Biotechnology
- Private Equity
- Finance and Investments
Geography
- United States – Bluebird bio is based in the United States, as are Carlyle and SK Capital's operational aspects, making the U.S. the primary geography for this transaction.
Industry
- Biotechnology – Bluebird bio operates in the biotechnology sector, focusing on gene therapy applications for severe genetic diseases.
- Private Equity – Carlyle and SK Capital are private equity firms involved in acquiring bluebird bio, illustrating the industry's role in corporate acquisitions and investments.
- Finance and Investments – The transaction between Carlyle, SK Capital, and bluebird bio is centered around investment decisions and shifts in shareholder value.
Financials
- $3.00 per share + $6.84 per share CVR – Option 1 for shareholders to receive $3.00 per share in cash plus a contingent value right of $6.84 per share.
- $5.00 per share – Option 2 for shareholders to receive $5.00 per share in cash without the CVR.
- $453 billion – Assets under management by The Carlyle Group as of March 31, 2025.
- $9 billion – Assets under management by SK Capital Partners.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bluebird bio, Inc. | Target Company | Company | A gene therapy company specializing in ex-vivo gene therapies for severe genetic diseases. |
| The Carlyle Group | Bidding Company | Company | A global investment firm with expertise in deploying private capital across various business segments. |
| SK Capital Partners | Bidding Company | Company | A private investment firm focused on the life sciences, specialty materials, and ingredients sectors. |
| Innisfree M&A Incorporated | Information Agent | Company | The agent providing assistance to stockholders for tendering their shares in the bluebird bio transaction. |