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

[September 12, 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.

Attendees purchase DNA kits at the 23andMe booth at the RootsTech annual genealogical event in Salt Lake City, Utah, U.S., February 28, 2019. REUTERS/George Frey/File Photo

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)

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