23andMe Board Rejects CEO Anne Wojcicki’s Take-Private Plan, Requests Changes

1. Rejection of Proposal: The board of directors of 23andMe rejected CEO Anne Wojcicki's proposal to take the company private.
2. Reasons for Rejection: The proposal did not offer a premium to the current stock price and lacked committed financing from other investors.
3. Conditions and Expectations: The board expected a fully financed, fully diligenced, and actionable proposal in the best interests of non-affiliated shareholders.
4. Request for Withdrawal: The board asked Wojcicki to withdraw her opposition to alternative transactions to assess interest from other potential buyers.
5. Potential Rift: The rejection highlights a potential rift between the board and Wojcicki, who co-founded the company 18 years ago.
6. Future Considerations: The board is open to further discussions and has given Wojcicki a limited amount of additional time to submit a revised proposal.