23andmeThe special committee of the independent directors on Monday, Anne Wojcicki's proposal to take over the distributed gen testing company privately.
Wojcicki submitted a proposal to the committee on Sunday during which he was in a position to purchase all of the outstanding shares of the corporate for 41 cents each A submission With the US Securities and Exchange Commission.
The stock fell by 33% to $ 1.47 on Monday, which declined to a decline of greater than 99% in comparison with its climax in 2021.
Wojcicki and New Mountain Capital submitted an earlier offer in February to take over the corporate privately for $ 2.53 per share. Days later New Mountain told Wojcicki that it was not concerned about participating in a possible acquisition and would hire discussions, the submission said.
23Andmes Special Committee said that Wojcicki's proposal was a decrease of 84% in comparison with the previous offer and is set not to maneuver forward, in order that it was impossible to advance, so a publication 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 administrators.
A representative of 23Andme rejected an announcement.
After a turbulent 2024, 23andme announced plans to explore in January Strategic alternativesincluding a sale of the corporate or its assets, a restructuring or an organization combination.
Wojcicki previously submitted a proposal to take over the corporate privately in July for 40 cents per share, but it surely was rejected Due to the special committee, partly since the members specified, there was no defined financing and at the moment didn’t provide a premium for the closing price.
REGARD: The increase and fall of 23andme
image credit : www.cnbc.com