Ancestry Says a 23AndMe Takeover Would Raise Antitrust Issues

Bloomberg10-29

(Bloomberg) -- Ancestry.com Inc. said a hypothetical takeover of its flailing rival in the consumer genetic testing industry, 23andMe Holding Co., likely wouldn’t be possible for antitrust reasons. “...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2479142434?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/0.DIDTS6NzqMnITA_3HOQQ--~B/aD0xMzM1O3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_technology_68/39976eb70d635690b20c2297f1a40956","is_english":true,"pubTime":"2024-10-29 00:27","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2479142434","market":"us","top_or_hot":-1,"title":"Ancestry Says a 23AndMe Takeover Would Raise Antitrust Issues","media":"Bloomberg","content":"<div>\n<p>(Bloomberg) -- Ancestry.com Inc. said a hypothetical takeover of its flailing rival in the consumer genetic testing industry, 23andMe Holding Co., likely wouldn’t be possible for antitrust reasons. \n“...</p>\n\n<a href=\"https://finance.yahoo.com/news/ancestry-says-23andme-takeover-raise-162725024.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ancestry Says a 23AndMe Takeover Would Raise Antitrust Issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAncestry Says a 23AndMe Takeover Would Raise Antitrust Issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-29 00:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/ancestry-says-23andme-takeover-raise-162725024.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Ancestry.com Inc. said a hypothetical takeover of its flailing rival in the consumer genetic testing industry, 23andMe Holding Co., likely wouldn’t be possible for antitrust reasons. \n“...</p>\n\n<a href=\"https://finance.yahoo.com/news/ancestry-says-23andme-takeover-raise-162725024.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ME","symbol_name":"23andMe, Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/ancestry-says-23andme-takeover-raise-162725024.html","article_id":"2479142434","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/0.DIDTS6NzqMnITA_3HOQQ--~B/aD0xMzM1O3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_technology_68/39976eb70d635690b20c2297f1a40956"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479142434","pubTimestamp":1730132845,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":" -- Ancestry.com Inc. said a hypothetical takeover of its flailing rival in the consumer genetic testing industry, 23andMe Holding Co., likely wouldn’t be possible for antitrust reasons.“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 ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ME":"23andMe, Inc.","BK4196":"保健护理服务","BK4121":"生命科学工具和服务"},"translate_title":"Ancestry表示23AndMe收购将引发反垄断问题","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ME":0.9},"content_text":"(Bloomberg) -- Ancestry.com Inc. said a hypothetical takeover of its flailing rival in the consumer genetic testing industry, 23andMe Holding Co., likely wouldn’t be possible for antitrust reasons. \n“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.\nAn Ancestry spokesperson declined to comment beyond what was said during the meeting.\n23andMe 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.  \nFor more: All Those 23andMe Spit Tests Were Part of a Bigger Plan\nEven if Ancestry were allowed to buy 23andMe, Chief Operating Officer Howard Hochhauser isn’t sure they would want to, he said during the meeting last week. Ancestry has the best product and network of data, Hochhauser said, pointing to a recent spike in sales of DNA testing kits.\nLed by former Meta Platforms Inc. executive Deborah Liu, Ancestry is the world’s largest consumer genealogy company. It has more than $1 billion in revenue and over 25 million people in its DNA database, according to the company’s website. In 2020, private equity giant Blackstone Group Inc. acquired a majority-stake in the company.\n©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2479142434"}