23andMe Judge Questions Limits for New Auction for Bankrupt Firm
The judge overseeing the bankruptcy of 23andMe questioned the limits proposed for a second auction that is designed to push bids higher than a current $256 million offer from Regeneron Pharmaceuticals for the genetic-testing firm.
US Bankruptcy Judge Brian Walsh asked lawyers for Regeneron and 23andMe to justify the limits they're supporting, but which have been criticized by the only other bidder, a California-based research institute backed by former 23andMe Chief Executive Officer Anne Wojcicki.
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