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 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 into the arms of Permira at the expense of potentially higher bids from several other private equity...
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