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.