23andMe CEO Anne Wojcicki and New Mountain Capital offer to take company private

Reuters
22 Feb
23andMe CEO Anne Wojcicki and New Mountain Capital offer to take company private

Feb 21 (Reuters) - Genetic testing firm 23andMe ME.O Chief Executive Officer Anne Wojcicki and investment firm New Mountain Capital have submitted a proposal to take the company private, according to a regulatory filing on Friday.

Both parties have jointly made an offer to buy the company for $2.53 per share, a deal that would value the company at $67.9 million.

Last month, 23andMe had said it was exploring strategic alternatives, including a possible sale, in light of significant doubts about its ability to sustain operations.

Wojcicki, who has been trying to take the company private since April, has faced a tough challenge after independent directors of 23andMe resigned in September, unsatisfied with the take-private offer they received.

In July, the CEO and co-founder proposed buying all outstanding shares of the firm not already owned by her or affiliated entities for 40 cents each.

(Reporting by Christy Santhosh in Bengaluru; Editing by Mohammed Safi Shamsi)

((Christy.Santhosh@thomsonreuters.com;))

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