23andMe CEO Anne Wojcicki and New Mountain Capital offer to take company private

Chrome Holding Co

21/02/2025 23:40

Feb 21 (Reuters) - 
    Genetic testing firm 23andMe  ME.O  Chief Executive Officer
Anne Wojcicki and investment firm New Mountain Capital have
submitted a proposal to take the company private, according to a
regulatory filing on Friday.
  
        Both parties have jointly made an offer to buy the
company for $2.53 per share, a deal that would value the company
at $67.9 million.
  
    Last month, 23andMe had said it was exploring strategic
alternatives, including a possible sale, in light of significant
doubts about its ability to sustain operations.
    Wojcicki, who has been trying to take the company private
since April, has faced a tough challenge after independent
directors of 23andMe resigned in September, unsatisfied with the
take-private offer they received.
    In July, the CEO and co-founder proposed buying all
outstanding shares of the firm not already owned by her or
affiliated entities for 40 cents each.



 (Reporting by Christy Santhosh in Bengaluru; Editing by
Mohammed Safi Shamsi)
 ((Christy.Santhosh@thomsonreuters.com;))