Bluebird Bio Stock Falls After Ayrmid Misses Acquisition Offer Deadline

Bluebird bio announced that Ayrmid Ltd. failed to provide a binding acquisition proposal or secure the necessary funding after weeks of discussions and a deadline extension. Ayrmid had previously made a non-binding offer that was higher than the earlier deal Bluebird struck with Carlyle Group and SK Capital Partners, but could not formalize its bid. As a result, Bluebird's board reaffirmed its support for the existing agreement with Carlyle and SK, urging shareholders to accept the current offer by May 2. The Carlyle-SK deal, announced in February, offers $3.00 per share in cash and a contingent value right tied to future sales milestones. Bluebird's leadership cited the company's risk of loan default without a timely capital infusion, reinforcing the urgency of proceeding with the Carlyle-SK buyout. Shares of Bluebird bio fell sharply following the news of Ayrmid's failure to submit a formal offer.