Goldman Sachs Downgrades Ancestry.com (ACOM) to Neutral
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October 22, 2012 6:42 AM EDT
Ancestry.com (Nasdaq: ACOM), the global leader in online family history, and Permira, the European private equity firm with global reach, today announced that a company owned by the Permira funds and co-investors has entered into a definitive merger agreement to acquire Ancestry.com for $32.00 per share in cash in a transaction valued at $1.6 billion. Tim Sullivan, Ancestry.com's President and Chief Executive Officer, and Howard Hochhauser, Ancestry.com's Chief Financial Officer and Chief Operating Officer, will maintain a majority of their equity stakes in the company as part of the transaction. Spectrum Equity will also remain an investor in the company.
The transaction represents a premium of 41% over... More
