Saturday, 27 October 2012

Shareholders sue over proposed buyout

Further to the announcement earlier this week that was to be sold to the European equity firm Permira, it now transpires that Ancestry shareholders have sued the company and are contending that they will be "shortchanged" by the proposed $1.6 billion buyout.

Business Week reports that investor John Heck has "asked the court to block the buyout as currently proposed and to consider awarding damages and legal fees". They further comment that Heather Erickson, an spokeswoman, "didn't immediately return an e-mail message seeking comment on the lawsuit".

The full story can be found here.

Debbie Kennett

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