23andMe back on the auction block after former CEO makes 11th-hour bid
DNA testing company 23andMe is back up for sale, throwing a purchase agreement reached last month into chaos, court filings show.
The board of directors of 23andMe, which filed for bankruptcy in March, had agreed to sell the company and its assets to pharmaceutical firm Regeneron for $256m after conducting an auction in April. However, the founder and former CEO of the genetics company, Anne Wojcicki, put in a $305m bid through a newly formed non-profit, TTAM Research Institute, after the auction ended and pushed the bankruptcy court to re-open the sale process. She tried to buy the company multiple times during its long decline and bankruptcy but was rejected by the board.
TTAM's offer of $305m will serve as a starting price for the secondary sale process, and Regeneron will be permitted to submit a competing bid that is at least $10m more. Both companies will be able to then submit a final offer. Whoever loses will qualify for a $10m breakup fee, according to the Wall Street Journal, which first reported the news.
Sign up to TechScape
A weekly dive in to how technology is shaping our lives
after newsletter promotion
The reopening of the auction puts the valuable trove of DNA data that 23andMe has accrued back on the market. Consumer concerns over who will control their data after a sale and what they would do with it prompted hundreds of 23andMe customers to delete their DNA info from the site. As part of its acquisition, Regeneron said it would comply with 23andMe's privacy policies and applicable laws with respect to the use of customer data. In the weeks since the acquisition was agreed upon, Regeneron said that it had already started to work with a consumer privacy ombudsman and was 'preparing to work with regulators, among others, to assure all interested stakeholders that 23andMe will be in safe hands and will not face the data breach issues that plagued it in the past', according to court filings.
Regeneron agreed to the terms of the secondary sale but in court filings lamented that TTAM was permitted to submit the bid after the auction closed in spite of rules that prohibited such late bids. The company accused both TTAM and 23andMe of violating the court-ordered bidding procedures, including the deadline for bids and overbids.
'Since the auction ended, Regeneron has been subject to remarkably unfair
treatment,' court filings read. 'Despite auction rules that unambiguously prohibit bids after the auction, and that likewise prohibit bidders from seeking to reopen the auction, TTAM—a vehicle controlled by the Debtors' former CEO, which participated at every stage of the auction—has submitted a flurry of new bids and has pressed non-stop to reopen the auction.'
Regeneron further pointed to an eighth circuit ruling that warned against allowing buyers to 'bide[] its time during the auction, taking an opportunity to survey the landscape of the sale, only later to submit an upset bid at the lowest possible price'. The company also cited Wojcicki's previous failed attempts to purchase the company or take it private.
'In short, and given that history, no bidder would ever voluntarily participate in an
auction in which the Wojcicki Parties, who led the company into this proceeding, could use the auction process as a vehicle for price discovery, with a one-way option to reopen the process—and to bid again—after the auction concludes,' Regeneron's attorneys wrote in court filings.
23andMe, Regeneron and TTAM did not respond to requests for comment.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Geeky Gadgets
28 minutes ago
- Geeky Gadgets
The ULTIMATE New iPhone Setup Guide: Every Secret Unlocked!
Setting up a new iPhone is an exciting experience, but it can feel overwhelming if you're unsure where to start. The video below from Simple Alpaca provides a clear, step-by-step process to help you navigate everything from unboxing to customizing your device. By following these steps, you'll ensure your iPhone is ready to use and tailored to your preferences. Step 1: Unbox and Power On Carefully unbox your iPhone to avoid accidental damage. Consider applying a screen protector and using a case to safeguard your device from scratches or drops. Once your iPhone is secure, press and hold the power button to turn it on. Follow the on-screen instructions to select your preferred language and region. These settings will determine the default options for your device, such as date, time, and keyboard preferences. Step 2: Transfer Your Data Transferring data from your old device ensures you retain important files, contacts, and settings. Depending on your previous device, you can choose from several methods: From another iPhone: Use the Quick Start feature by placing your old and new iPhones near each other. This allows for a wireless transfer of data and settings. Use the Quick Start feature by placing your old and new iPhones near each other. This allows for a wireless transfer of data and settings. From iCloud: Restore your data from an iCloud backup during the setup process. Restore your data from an iCloud backup during the setup process. From a Mac or PC: Connect your iPhone to your computer and use Finder (macOS Catalina or later) or iTunes to transfer data manually. Connect your iPhone to your computer and use Finder (macOS Catalina or later) or iTunes to transfer data manually. From Android: Download the 'Move to iOS' app on your Android device to migrate contacts, photos, and other data seamlessly. Select the method that best suits your situation and follow the prompts to complete the transfer. Ensure your old device is fully charged and connected to Wi-Fi for a smooth process. Step 3: Connect to Wi-Fi and Set Up Your SIM To activate your iPhone, connect to a reliable Wi-Fi network or use cellular data. If your iPhone uses a physical SIM card, insert it into the SIM tray using the provided ejector tool. For eSIM-compatible models, follow the on-screen instructions to scan a QR code or manually enter the eSIM details provided by your carrier. This step is essential to enable calls, texts, and mobile data on your device. Step 4: Sign In with Your Apple ID Your Apple ID is central to accessing key iPhone features like the App Store, iMessage, FaceTime, and iCloud. During setup, sign in with your existing Apple ID or create a new one if you don't already have an account. Use a strong password and enable two-factor authentication for enhanced security. By signing in, your data, such as photos, notes, and app preferences, will sync across all your Apple devices, making sure a seamless experience. Step 5: Set Up Security Features Securing your iPhone is a critical step. Configure biometric authentication by setting up Face ID or Touch ID, depending on your device model. These features allow you to unlock your phone, authorize purchases, and access apps securely. Additionally, create a passcode for added protection. You can choose a six-digit code, four-digit code, or a custom alphanumeric passcode. These measures ensure your personal information remains safe. Step 6: Personalize Your iPhone Customizing your iPhone allows you to tailor it to your preferences and needs. Adjust the following settings to make your device uniquely yours: Display Preferences: Choose between light mode, dark mode, or auto mode, which adjusts based on ambient lighting conditions. Choose between light mode, dark mode, or auto mode, which adjusts based on ambient lighting conditions. Home Screen Layout: Organize app icons, create folders, and adjust widget placement for easy access to frequently used features. Organize app icons, create folders, and adjust widget placement for easy access to frequently used features. Sounds and Haptics: Set custom ringtones, vibration patterns, and notification tones to suit your style. These adjustments enhance your overall user experience and make your iPhone feel more personal. Step 7: Enable Advanced Features Maximize your iPhone's potential by setting up additional features that improve functionality and usability: Location Services: Enable GPS for apps like Maps, Weather, and Find My iPhone. Enable GPS for apps like Maps, Weather, and Find My iPhone. Siri: Set up Apple's voice assistant to perform tasks, answer questions, and provide hands-free assistance. Set up Apple's voice assistant to perform tasks, answer questions, and provide hands-free assistance. Screen Time: Monitor and manage your device usage by tracking app activity and setting daily limits. Monitor and manage your device usage by tracking app activity and setting daily limits. iOS Updates: Decide whether to enable automatic updates for convenience or opt for manual updates to maintain control over software changes. Decide whether to enable automatic updates for convenience or opt for manual updates to maintain control over software changes. Analytics Sharing: Review your preferences for sharing usage data with Apple to help improve their services. These features enhance your iPhone's capabilities and allow you to make the most of its advanced technology. Step 8: Finalize and Explore Before completing the setup, review and accept Apple's terms and conditions. Once accepted, your iPhone will finalize the configuration process and take you to the home screen. From here, you can begin exploring your device, downloading apps, and further customizing it to suit your lifestyle. Take time to familiarize yourself with the settings and features to ensure you're getting the most out of your new iPhone. Check out more relevant guides from our extensive collection on iPhone setup guide that you might find useful. Source & Image Credit: Simple Alpaca Latest Geeky Gadgets Deals Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy
The Independent
an hour ago
- The Independent
The Trump and Musk spat is turning them both into billion-dollar losers in every way
The boys are going at it. Like two heavies in the playground, the once richest man on Earth and one who thinks he is the most powerful are locked in a scrap. It's a bloke thing. Not long ago, the former bros used to spark off each other, rib each other while jointly belittling everyone else. Now the jocks, Elon Musk and Donald Trump, are grappling and so closely entwined were they and the organisations they lead, there can be no winner. It's possible that peace may prevail, but for how long? They've repeatedly raised the ante, which in male lore means backing down and letting bygones be bygones will be difficult. The fallout will hit them both. Trump says that Musk and his companies receive 'billions and billions of dollars' in government subsidies and contracts. He could cut them. 'I was always surprised that Biden didn't do it,' Trump wrote on his Truth Social platform. One estimate puts the total that Musk's two main businesses, SpaceX and Tesla, receive in public benefits at $38bn (£28bn). SpaceX president and chief operating officer, Gwynne Shotwell, has said its tally alone is $22bn. The exact combined figure may never be known because many of the deals between Musk's firms and Washington are classified. For his part, Musk is the heaviest donor to the Republicans, giving $200m to the GOP. There was more. Musk said he would support Maga candidates in local primaries, to the tune of $10m a pop, against sitting Republicans, should they dare to oppose Trump. Meanwhile, Musk's space rockets fly Nasa astronauts to the orbiting shuttle – without that service, the Americans would have to do the diplomatically unthinkable and seek the wholesale assistance of Russia and its Soyuz vehicles. It's likely the love-in was always destined to fail. Trump demands complete adulation, any dissenters are quickly shown the door. Musk, for all his admiration of the president, disagreed with him profoundly on a number of key issues. In order for his companies to stay ahead and to keep reinventing and innovating, Musk must attract the best brains. Whatever Trump alleges, they do not all exist in America, Musk needs to draw talent from overseas. That ran up against Trump's anti-immigration policy. Musk is a renewable energy evangelist, he made his name with the high-performance Tesla electric car. Trump is anything but, clinging to the belief that fossil fuels still rule and have a future. Likewise, Musk's products rely on imported parts and materials. Trump has kiboshed global supply lines and delivered large-scale uncertainty with his adherence to new tariffs. Musk's position on these was well known. He said so, and Trump tolerated him. After all, he was doing the White House 's bidding on Doge, slashing perceived governmental waste. Trump was happy for him to take the rap, to be the fall guy or poster boy, depending on how it was viewed. Musk's Maga popularity may have soared, but among his investors and consumers, it plummeted. Both men are characterised by a stubborn refusal to climb down and a belief in their own might. Musk pressed on, regardless. They also speak their minds, as they find, again, convinced of their own brilliance. There was so much that Trump was prepared to forgive, but it was when Musk openly criticised Trump's central tax bill that the gloves finally came off. It is a priority of Trump's second term, and the measure requires congressional Republican backing to get through. By hailing it a 'disgusting abomination', Musk was sowing doubt among possible GOP waverers, and that simply would not do. The new distance between them was noticed, and the rot set in. Musk was exiting the building. The president exhibited his usual pettiness, so what sent Musk ballistic was when an ally had his nomination to run Nasa withdrawn. That pal, Jared Isaacman, came out and said he was a victim of revenge – his nomination was revoked on the very day that the 'first buddy' was saying his White House goodbyes. Far from damping down the speculation as to why his appointment was suddenly off, Isaacman raised it. 'I mean, people can draw their own conclusions, but I think the directions people are going in seems to check out to me,' he said. Isaacman was not any other candidate – the billionaire had been a close collaborator with Musk ever since he led the first chartered passenger flight on SpaceX in 2021. Musk, understandably, was riled. Now it was personal. Since then, we've been treated to the spectacle of gladiatorial combat, albeit resorting to childish insults as weapons. But each man has plenty to lose. Trump is a brooder; he does not forget easily, and Musk may have overstepped a mark by alerting the world's media and social media to something that might or might not be contained in confidential files regarding Epstein and Trump. That may just prove unforgivable. Certainly, in the absence of an explanation, the accusation could return to haunt Trump. There may be one. It could be trivial and of little consequence. Musk may merely have been having fun, being provocative, and he hasn't presented anything to substantiate the allegation. But until we know, we cannot be sure, and the gossip will continue. Meanwhile, Trump's longtime ally Steve Bannon suggested that the president 'should sign an executive order calling for the Defense Production Act and seize SpaceX'. And the President himself was said to be planning on dispensing with all traces of Elon Musk, including the Tesla he bought at full price in March. It's perverse that they should be reduced to this. But two large, bristling personalities, possessors of machismo in abundance, were probably always going to find sharing the same small classroom an enormous challenge. Despite deploying all the cynical disregarding and showboating they could muster, it was insurmountable and could come at an enormous cost.
Daily Mail
an hour ago
- Daily Mail
EXCLUSIVE Poll reveals whether Americans stand with Trump or Musk as feud spirals
Republicans far-and-away are on President Donald Trump 's side amid his very public break-up with former DOGE leader Elon Musk. In a Daily Mail poll conducted by JL Partners and released Friday, 59 percent of Republicans sided with the U.S. president, while just 12 percent chose Musk. Another 28 percent said they were unsure. 'Republicans are clear: Donald Trump is their man. As our polling showed before, Trump voters are sticking by the person they backed in November over Elon Musk,' said J.L. Partners pollster James Johnson. During Thursday's dust-up, Musk suggested he had more political staying power than Trump, pointing out the president had just three and a half more years in office. Musk also said he backed Trump being impeached - and replaced by 40-year-old Vice President J.D. Vance. Since April Trump has lost some support with GOP voters, while Musk's has grown - but Trump still has nearly five times as much support. Previous polling found that 70 percent of Republicans backed Trump, while 6 percent selected Musk. Only 10 percent of Democrats voiced support for Trump, while 35 percent picked Musk. Fifty-four percent of Democrats were unsure which MAGA-aligned individual to choose. The fresh poll was conducted Friday with a sample of 1,006 registered voters, with a margin of error of plus or minus 3.1 percent. On Thursday Trump and Musk took part in a spectacular public spat, which included cameos by dead serial pedophile Jeffrey Epstein and anti-Semitic rapper Kanye West. The fallout between Trump and Musk - who were political allies for a little less than a year - started in recent weeks when the billionaire started resisting Republicans' 'big, beautiful bill,' arguing that the spending wiped out DOGE's cost-cutting efforts. Then, on Thursday, when Trump was supposed to be hosting the new German Chancellor Friedrich Merz in the Oval Office, he was asked about Musk's recent criticism. From there the dam broke. 'Elon and I had a great relationship. I don't know if we will any more, I was surprised,' Trump told reporters. The president suggested that Musk was angry - not over the bill ballooning the deficit - but because the Trump administration has pulled back on electric vehicle mandates, which negatively impacted Tesla, and replaced the Musk-approved nominee to lead NASA, which could hinder SpaceX 's government contracts. 'And you know, Elon's upset because we took the EV mandate, which was a lot of money for electric vehicles, and they're having a hard time the electric vehicles and they want us to pay billions of dollars in subsidy,' Trump said. 'I know that disburbed him.' Over the weekend, Trump pulled the nomination of Jared Isaacman to lead NASA. Isaacman had worked alongside Musk at SpaceX. 'He recommended somebody that I guess he knew very well, I'm sure he respected him, to run NASA and I didn't think it was appropriate and he happened to be a Democrat, like totally Democrat,' Trump continued. 'We won, we get certain privileges and one of the privileges is we don't have to appoint a Democrat.' Musk posted to X as Trump's Q&A with reporters was ongoing. 'Whatever,' the billionaire wrote. 'Keep the EV/solar incentive cuts in the bill, even though no oil & gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill,' he advised. 'In the entire history of civilization, there has never been legislation that [is] both big and beautiful. Everyone knows this!' Musk continued. 'Either you get a big and ugly bill or a slim and beautiful bill. Slim and beautiful is the way.' The spat quickly turned personal with Musk then posting that Trump would have lost the 2024 election had it not been for the world's richest man - him. Musk had publicly endorsed Trump on the heels of the July 13th assassination attempt in Butler, Pennsylvania and poured around $290 million of his fortune into the Republican's campaign. The billionaire also joined Trump on the campaign trail when he returned to the site of the Butler shooting in early October, a month before Election Day. Elon Musk objected to President Donald Trump's claim that Trump would have won Pennsylvania - and the 2024 election - without the help from the world's richest man. 'Such ingratitude,' Musk commented Trump said in the Oval that he likely still would have won Pennsylvania without Musk's help and because Democratic Vice President Kamala Harris didn't choose the state's governor, Josh Shapiro, to be her running mate. Even with Shapiro on the ticket, Trump claimed, 'I would have won Pennsylvania, I would have won by a lot.' Musk said that was laughable. 'Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate,' Musk claimed. 'Such ingratitude,' the billionaire added. The 53-year-old Musk also asserted he had more staying power than the 78-year-old president. 'Oh and some food for thought as they ponder this question: Trump has 3.5 years left as President, but I will be around for 40+ years,' Musk said Thursday afternoon, responding to a post from MAGA agitator Laura Loomer. Loomer said she was reporting from Capitol Hill and that Republican lawmakers were trying to determine if it was better to side with Trump or Musk. After his meeting with Merz, Trump continued to throw punches online. Trump asserted that he had asked Musk to leave his administration and said the billionaire went 'CRAZY!' 'Elon was "wearing thin," I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!' Trump wrote. The president then threatened to pull SpaceX and Tesla's government contracts. 'The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it!' Trump wrote. Musk then taunted Trump to act. 'This just gets better and better,' he wrote. 'Go ahead, make my day …' In a follow-up post, Musk said he would 'begin decommissioning its Dragon spacecraft immediately.' The Dragon is how NASA astronauts currently travel to the International Space Station - and how supplies make it there. As the fight continued, Tesla shares plummeted. Anti-semitic rapper Kanye West even got involved. 'Broooos please noooooo. We love you both so much,' West wrote. And Musk threw the Epstein bomb. '@RealDonaldTrump is in the Epstein files. That is the real reason they have not been made public,' Musk wrote. 'Have a nice day, DJT!' Epstein is a serial child sex offender who died in prison in 2019. Trump pledged to release the files related to Epstein, with Attorney General Pam Bondi releasing some pages in February, but most of that information was already in the public domain. 'Mark this post for the future. The truth will come out,' Musk added. Trump didn't directly respond to Musk's Epstein charge, instead posting what amounted to a shrug on Truth Social, while also continuing to back the 'big, beautiful bill.' 'I don't mind Elon turning against me, but he should have done so months ago,' Trump wrote. 'This is one of the Greatest Bills ever presented to Congress.' Later he ignored shouted questions from reporters on Musk's Epstein charge as he hosted the National Fraternal Order of Police executive board in the State Dining Room. Asked for comment, White House press secretary Karoline Leavitt told the Daily Mail in a statement: 'This is an unfortunate episode from Elon, who is unhappy with the One Big Beautiful Bill because it does not include the policies he wanted.' 'The President is focused on passing this historic piece of legislation and making our country great again,' Leavitt added. Trump didn't directly respond to Musk's Epstein charge, instead posting what amounted to a shrug on Truth Social, while also continuing to back the 'big, beautiful bill.' 'I don't mind Elon turning against me, but he should have done so months ago,' Trump wrote. 'This is one of the Greatest Bills ever presented to Congress.' Later he ignored shouted questions from reporters on Musk's Epstein charge as he hosted the National Fraternal Order of Police executive board in the State Dining Room. A source familiar pointed out to the Daily Mail that 'everyone knows President Trump kicked Jeffrey Epstein out of his Palm Beach Golf Club.' 'The Administration itself released Epstein files with the President's name included. This is not a new surprise Elon is uncovering. Everyone already knew this,' the source continued. The source also mused, 'If Elon truly thought the President was more deeply involved with Epstein, why did he hangout with him for 6 months and say he "loves him as much as a straight man can love a straight man?"' It was less than a week ago that Trump gave Musk a golden key and a DOGE send-off from the Oval Office.
