financetom
Business
financetom
/
Business
/
23andMe independent directors quit board over unsatisfactory buyout plan from CEO
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
23andMe independent directors quit board over unsatisfactory buyout plan from CEO
Sep 20, 2024 9:29 PM

Sept 17 (Reuters) - The independent directors of genetic

testing firm 23andMe said on Tuesday they have resigned

from the company's board after not receiving a satisfactory

take-private offer from CEO Anne Wojcicki.

Wojcicki, who has been trying to take the company private

since April, proposed to acquire all outstanding shares of

23andMe not owned by her or her affiliates for $0.40 per share,

in July.

"After months of work, we have yet to receive from you a

fully financed, fully diligenced, actionable proposal that is in

the best interests of the non-affiliated shareholders," said the

seven directors in a letter to the company's co-founder and CEO.

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.

"That we have not seen any notable progress over the last 5

months leads us to believe no such proposal is forthcoming," the

directors added.

They also said the special committee is unwilling to

consider further extensions, and that the company's board agrees

with it.

Earlier this month, Wojcicki said she would be open to

considering third-party takeover proposals for the company.

23andMe, best known for its saliva-based test kits that

offer users a glimpse into their genetic ancestry, went public

in 2021.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Amgen Q2 Adjusted Earnings, Revenue Jump; 2025 Outlook Raised
Amgen Q2 Adjusted Earnings, Revenue Jump; 2025 Outlook Raised
Aug 5, 2025
04:15 PM EDT, 08/05/2025 (MT Newswires) -- Amgen ( AMGN ) reported fiscal Q2 non-GAAP net income late Tuesday of $6.02 per diluted share, up from $4.97 a year earlier Analysts polled by FactSet expected $5.28. Revenue for the quarter ended June 30 was $9.18 billion, up from $8.39 billion a year earlier. Analysts expected $8.94 billion. For fiscal 2025,...
SLR Investment Q2 net investment income $0.40/share
SLR Investment Q2 net investment income $0.40/share
Aug 5, 2025
Overview * SLR Q2 net investment income at $0.40/share * Net asset value per share rises to $18.19 from $18.16 * Over 80% of portfolio in specialty finance loans, offering downside protection Outlook * Company sees demand for asset-based financing amid uncertain economic climate * SLR Investment Corp. ( SLRC ) focuses on first lien senior secured specialty finance *...
Match Group posts revenue above estimates as it looks to lure Gen Z with AI Push
Match Group posts revenue above estimates as it looks to lure Gen Z with AI Push
Aug 5, 2025
(Reuters) -Tinder-parent Match Group's second-quarter revenue surpassed Wall Street expectations on Tuesday, buoyed by strong performance at Hinge and a renewed strategic focus under new CEO Spencer Rascoff. Shares of the company rose 9% in extended trading. The company credited its revenue beat to the ongoing overhaul, which places greater emphasis on enhancing user experience, including the integration of an...
Copyright 2023-2026 - www.financetom.com All Rights Reserved