Ancestry.com Must Reveal More About $1.6B Permira Deal

Law360, Wilmington (December 17, 2012, 9:15 PM EST) -- A Delaware judge on Monday refused to hold up Permira Advisers LLC's $1.6 billion bid for Ancestry.com in response to a shareholder class action, but ordered the genealogy website to make additional disclosures on the deal to its investors.

At a court hearing in Wilmington, Chancellor Leo Strine said he was not convinced by the investors' allegations that top executives and a large shareholder, Spectrum Equity Investors, pushed Ancestry.com into the arms of Permira at the expense of potentially higher bids from several other private equity...
To view the full article, register now.