Reuters - Judge Says Ancestry.com Must Provide Details On Sale

Ancestry.com Inc. must provide more details about the $1.6 billion sale of the genealogy website before its shareholders vote on the acquisition by private equity firm Permira Investment Advisors, a Delaware judge ruled on Monday. Delaware Court of Chancery judge Leo Strine made his ruling from the bench, saying he wanted to give Ancestry.com time to comply and hold its Dec. 27 shareholder vote as scheduled. Shareholders had sued to block the vote on the deal, arguing the sale was riddled with conflicts, lacked disclosures and used legal steps that locked out competing bids. Ancestry.com agreed in October to be bought by the Permira-led group.

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