23andMe CEO Wojcicki no longer open to third-party takeover proposals, filing shows
Sept 30 (Reuters) -Genetic testing firm 23andMe ME.O 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
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
