23andMe CEO Wojcicki Rejects Third-Party Takeover Proposals, Filing Reveals

Genetic testing company 23andMe’s CEO, Anne Wojcicki, has announced that she will no longer consider third-party takeover proposals, as detailed in a recent regulatory filing. Wojcicki emphasized her belief that the most effective strategy for the company is to transition it to a private entity.

Earlier this month, Wojcicki had indicated she was open to evaluating and negotiating any potential third-party offers. In July, she proposed to buy all outstanding shares of 23andMe not currently held by her or her affiliates at a price of $0.40 each.

The company’s independent directors resigned earlier this month, stating they had not received a satisfactory take-private offer that would serve the best interests of the non-affiliated shareholders. 23andMe, which provides DNA testing services to help users explore their ancestry, went public in 2021.