23andMe CEO Wojcicki open to third-party takeover proposals for firm, filing shows

Chrome Holding Co

11/09/2024 23:00

Sept 11 (Reuters) - 23andMe  ME.O  co-founder and chief
executive Anne Wojcicki would be open to considering third-party
takeover proposals for the company, a regulatory filing showed
on Wednesday.
    The genetic testing firm's shares were up 2.8% at $0.31 in
extended trade.
    In July, Wojcicki, who has been trying to take the company
private, proposed to acquire all outstanding shares of 23andMe
not owned by her or her affiliates for $0.40 per share.
    The filing also said the CEO continues to evaluate and
negotiate a deal.
    A special committee formed by the company rejected
Wojcicki's previous proposal, deeming it insufficient and not in
the best interest of the non-affiliated shareholders.
    Other alternatives will be pursued to maximize value for
shareholders, in the absence of a revised offer, the committee
said last month.
    23andMe, best known for its saliva-based test kits that
offer users a glimpse into their genetic ancestry, went public
in 2021.


 (Reporting by Puyaan Singh in Bengaluru; Editing by Alan
Barona)
 ((Puyaan.Singh@thomsonreuters.com))