Ancestry Says a 23AndMe Takeover Would Raise Antitrust Issues [Yahoo! Finance Canada]
Blackstone Inc. (BX)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg “Although we are always interested in looking at possibilities that are out there, 23andMe specifically would be challenging because they're the No. 2 in the category and we're the No. 1 in the category and those combinations can be challenging from an FTC standpoint,” Chief Legal Officer Greg Packer said at an internal meeting last week when asked about the possibility of buying 23andMe's database. An Ancestry spokesperson declined to comment beyond what was said during the meeting. 23andMe went public in 2021 via a merger with a special purpose acquisition company founded by billionaire Richard Branson and was valued at $3.5 billion at the time. Since then, its shares have fallen 98% as sales of DNA testing kits have slowed. Chief Executive Officer Anne Wojcicki said last month she is no longer open to third party takeover proposals and instead will take the company private. All independent board members resigned last month. For more: All Those 23an
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