Carlyle, SK to Buy Struggling Gene Therapy Firm Bluebird (1)

Bluebird Bio Inc., the struggling maker of gene therapies, is being acquired by the investment firms Carlyle Group and SK Capital Partners.

Bluebird holders will receive $3 a share in cash along with contingent value rights worth up to an additional $6.84 each if certain business goals are met, according to a statement Friday. Bluebird shares fell as much as 34% when New York trading began after closing at $7.04 on Thursday.

The deal marks the end of Bluebird’s tumultuous time as a public company, when it came to symbolize Wall Street’s excitement, and later disillusionment, with gene ...