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23andMe special committee again rejects CEO Wojcicki's take-private offer

1. 23andMe's CEO offered to take the company private at 41 cents per share. 2. The board rejected the proposal citing an 84% drop from a previous offer. 3. Stock plummeted 33%, losing 99% value since peak in 2021. 4. Insufficient financing and lack of premium factored into the rejection. 5. 23andMe is considering strategic alternatives, including asset sales and restructuring.

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$1.4703/03 06:48 PM EDTEvent Start
$1.3703/05 01:10 AM EDTLatest Updated
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FAQ

Why Very Bearish?

The rejection of a low buyout offer reflects deep financial distress, similar to situations seen in struggling companies like Kodak before bankruptcy.

How important is it?

The drastic decline in stock value and leadership challenge indicate ongoing instability.

Why Short Term?

The immediate impact of stock decline and board rejection will affect prices over the next few months.

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