23andMe CEO Wojcicki open to third-party takeover proposals for firm, filing shows
6:54 pm Wednesday, September 11th, 2024
(Reuters) – 23andMe 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)
