23andMe special committee again rejects CEO Wojcicki's take-private offer

Anne Wojcicki, co-founder and chief executive officer of 23andme Inc., during the South by Southwest (SXSW) festival in Austin, Texas, US, on Friday, March 10, 2023. 23andMe 's special committee of independent directors on Monday rejected CEO Anne Wojcicki's proposal to take the distressed genetic testing company private. Wojcicki submitted a proposal to the committee on Sunday, offering to acquire all of the company's outstanding shares for 41 cents each, according to a filing with the U.S. Securities and Exchange Commission. The stock plunged 33% on Monday to close at $1.47, down more than 99% from its peak in 2021. Wojcicki and New Mountain Capital submitted a prior bid in February to take the company private for $2.53 per share. Days later, New Mountain told Wojcicki it was no longer interested in participating in a potential acquisition and would discontinue discussions, the filing said. 23andMe's special committee said that Wojcicki's proposal represented an 84% decrease fro ... Read full article.