23andMe board rejects co-founder Anne Wojcicki’s offer to take company private

The board of directors of 23andMe rejected a proposal from co-founder and CEO Anne Wojcicki to take the company private. The board cited reasons such as the lack of a premium to the current stock price, absence of committed financing from other investors, and other rejected conditions. They asked Wojcicki to withdraw her opposition to an alternative transaction so they could explore interest from other potential buyers. The board expressed disappointment that Wojcicki’s proposal did not meet their expectations for a fully-financed and actionable offer in the best interests of non-affiliated shareholders.

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