BUZZ-Bluebird bio rises on non-binding bid for up to $110.5 million

Reuters03-31
BUZZ-Bluebird bio rises on non-binding bid for up to $110.5 million

** Gene therapy maker Bluebird Bio's BLUE.O shares rise 10% to $4.49 premarket

** BLUE said late on Friday it received a non-binding offer from privately held UK company Ayrmid for up to $110.5 million

** Ayrmid offered to acquire bluebird for $4.50 per share upfront, totaling about $43.8 million, according to Reuters calculations

** Ayrmid also offered an additional $6.84 per share, representing about $66.6 million, contingent upon bluebird achieving certain sales milestones

** In February, BLUE said it had agreed to be taken private by Carlyle Group <CG.O> and SK Capital Partners, for $3 per share upfront along with the same $6.84 per share, contingent upon it achieving certain sales milestones

** As of last close, BLUE has fallen 84% in the past 12 months

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))

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