11:58 AM EST, 02/21/2025 (MT Newswires) -- (Updates to add stock move in the headline and the first paragraph.)

Bluebird bio (BLUE) shares declined 39% in recent Friday trading after the company said it agreed to be acquired by funds managed by The Carlyle Group ( CG ) and SK Capital Partners.

Under the terms of the deal, bluebird shareholders will receive $3.00 per share in cash and a contingent value right of $6.84 per share, payable in cash if bluebird's current product portfolio earns $600 million in net sales in any trailing 12-month period before or ending Dec. 31, 2027. The contingency potentially raises the acquisition price to $9.84 per share.

The company expects David Meek, former chief executive of Mirati Therapeutics and Ipsen, to be named CEO of bluebird when the deal closes. It also said Carlyle and SK Capital will provide the company with primary capital for commercial delivery of gene therapies for patients with sickle cell disease, thalassemia, and cerebral adrenoleukodystrophy.

Price: 4.30, Change: -2.75, Percent Change: -38.99