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.Strine said Ancestry.com had to disclose that its banker initially said it would be difficult to qualify as fair the $32 per share bid by Permira.
Ancestry.com Inc. (Ancestry) is an online family history resource. Shares of ACOM fell by 0.13% or $-0.04/share to $31.87. In the past year, the shares have traded as low as $20.75 and as high as $33.80. On average, 1073530 shares of ACOM exchange hands on a given day and today's volume is recorded at 3581547.
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