23Andme special committee rejection of the CEO Wojckkkkkkkkkickiii Second takeover offerings
Anne Wojcicki, co -founder and Chief Executive Officer from 23Andme Inc., during the South by Southwest (SXSW) Festival in Austin, Texas, USA, on Friday, March 10, 2023.
Jordan Vonderhaar | Bloomberg | Getty pictures
23andmeThe special committee of the independent directors on Monday, Anne Wojcicki’s proposal to take over the distributed gen testing company privately.
Wojcicki presented the committee to the committee on Sunday and, according to registration with the US Securities and Exchange Commission, offered to acquire all outstanding shares of the company for 41 cents each.
The stock fell by 33% to $ 1.47 on Monday, which declined to a decline of more than 99% compared to its climax in 2021.
Wojcicki and New Mountain Capital submitted an earlier offer in February to take over the company privately for $ 2.53 per share. Days later New Mountain told Wojcicki that it was no longer interested in participating in a potential acquisition and would hire discussions, the submission said.
23Andmes special committee said that Wojcicki’s proposal was a decrease of 84% compared to the previous offer and was determined not to go forward, according to a press release on Monday.
“In consultation with his financial and legal advisors, the special committee has checked Ms. Wojcicki’s proposal and unanimously decided to reject the proposal,” said the directors.
A representative of 23Andme rejected a statement.
After a turbulent in 2024, 23Andme announced plans in January to explore strategic alternatives that could include a sale of the company or its assets, restructuring or a company combination.
Wojcicki previously submitted a proposal to take over the company privately for 40 cents per share in July, but it was rejected by the special committee, also because the members provided that it had no fixed financing and did not provide a premium for the closing price at this point.
REGARD: The increase and fall of 23andme
