Genetic testing company 23andMe, whose CEO is Anne Wojcicki, would no longer be open to considering third-party takeover proposals for the company, we learned in a regulatory filing on Monday.
“It became even clearer to me that the best path forward for the company is to privatize it,” Ms. Wojcicki said.
Wojcicki said earlier this month that she would consider third-party takeover proposals while continuing to evaluate and negotiate a deal.
In July, the CEO and co-founder offered to acquire all of the company’s outstanding shares not already owned by her or her affiliates for $0.40 each.
The company’s independent directors resigned earlier this month, saying they had not received a satisfactory buyout offer in the interest of unaffiliated shareholders.
23andMe, which offers DNA tests that allow users to learn more about their ancestors, went public in 2021.
