pwshub.com

23andMe CEO Wojcicki no longer open to third-party takeover proposals, filing shows

(Reuters) - Genetic testing firm 23andMe Chief Executive Officer Anne Wojcicki would no longer be open to considering third-party takeover proposals for the company, a regulatory filing showed on Monday.

"It has become even clearer to me that the best path forward for the (company) is for me to take the company private," Wojcicki said.

Wojcicki had said earlier this month she would consider third-party takeover proposals while continuing to evaluate and negotiate a deal.

In July, the CEO and co-founder proposed to acquire all outstanding shares of the firm not already owned by her or her affiliates for $0.40 each.

The independent directors of the company resigned earlier this month saying they had not received a satisfactory take-private offer in the best interests of the non-affiliated shareholders.

23andMe, which provides DNA testing that helps users learn more about their ancestry, went public in 2021.

(Reporting by Mariam Sunny in Bengaluru; Editing by Alan Barona)

Source: finance.yahoo.com

Related stories
2 weeks ago - Wojcicki, who has been trying to take the company private since April, proposed to acquire all outstanding shares of 23andMe not owned by her or her affiliates for $0.40 per share, in July. A special committee formed by the company...
4 hours ago - Customers of genetic data outfit 23andMe may be at greater risk than they realize, suggests a New York Times story that argues the company’s woes could be short-lived compared to the longer-term threats potentially facing those roughly 15...
1 week ago - Donald Trump’s stock fell another 10% Monday, tumbling almost 30% in five days. It’s among several SPAC mergers that have burned investors.
Other stories
5 minutes ago - Investors have a lot to celebrate this year, with the S&P 500 gaining 20%. While it's nice to receive high returns, it's also a good time to...
2 hours ago - They may technically be blue chips, but that doesn't necessarily make them your best bets at their discounted prices.
3 hours ago - It’s been another big week in high tech coverage for theCUBE, including a special broadcast with VAST Data for their Cosmos event and live analysis from Anyscale’s Ray Summit event. But the recent OpenAI funding round was a big subject...
4 hours ago - Stock market crashes look daunting on a chart so long as we restrict ourselves to a short time horizon. But the more we zoom out, the more they look...
5 hours ago - Nio has a lot going for it right now, including the third-quarter's record-delivery figure.