Bluebird bio, Carlyle, SK Capital Revise Acquisition Deal to Add New Cash Option

MT Newswires Live
14 May

Bluebird bio (BLUE), Carlyle (CG) and SK Capital Partners said Wednesday they have amended their Bluebird acquisition agreement to give shareholders a new cash option of $5 a share.

Under the revised terms, shareholders can now choose either $5 a share in cash or keep the original structure of $3 a share in cash plus a $6.84 per share contingent value right, or CVR, tied to future net sales, the companies said. Shares tendered without a selection will receive the original offer with the CVR, they said.

According to the joint statement, Bluebird's board has approved the revised deal and urged shareholders to tender their shares, adding that the inability to reach majority support could lead to default on loan agreements and leave shareholders with no recovery in a possible bankruptcy.

The tender deadline has been extended to May 29, the companies said, adding that as of May 13, about 2.3 million shares had been tendered.

Bluebird shares were up more than 50% in early trading, while Carlyle's stock was 0.4% higher.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10