BUZZ-23andMe rises after special committee rejects CEO's buyback offer

Reuters

03-04

BUZZ-23andMe rises after special committee rejects CEO's buyback offer

Updates

** Shares of DNA testing firm 23andMe ME.O rise 2% to $1.50 in extended trading

** Special committee unanimously rejects CEO Anne Wojcicki's acquisition proposal

** ME's CEO Anne Wojcicki had offered to buy the remaining stake in the company for $0.41/shr, or about $11 mln

** Wojcicki said private equity firm New Mountain is no longer interested in acquiring ME

** Last month, Wojcicki and New Mountain Capital had offered to take the company private for $2.53 per share, valuing the company at $67.9 million

** As of last close, stock down 54.7% YTD

(Reporting by Padmanabhan Ananthan and Pooja Menon in Bengaluru)

((Padmanabhan.Ananthan@thomsonreuters.com))

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