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23andMe Founder Aims To Restart Auction With Major Corporate Backing
Anne Wojcicki has asked a U.S. judge to reopen the auction for 23andMe, claiming she has backing from a $400+ billion Fortune 500 company. Reuters reports: South San Francisco, California-based 23andMe filed for bankruptcy in March, seeking to sell its business at auction after a decline in consume...
Reuters reports: South San Francisco, California-based 23andMe filed for bankruptcy in March, seeking to sell its business at auction after a decline in consumer demand and a 2023 data breach that exposed sensitive genetic and personal information of millions of customers. In a filing dated May 31, Wojcicki claimed that 23andMe's debtors had attempted to tilt the sales process away from TTAM and in favor of Regeneron. The company's debtors said the auction results came after an extensive and careful consideration by a four-member special committee of independent directors, according to the filing.
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