Ancestry.com (ACOM) to Bidders: 'You Can Do Better'
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Ancestry.com (Nasdaq: ACOM) is grabbing some attention Thursday following reports it turned down a juicy bid in favor of something better.
According to Bloomberg, Ancestry.com potentially turned down a $35 per share bid and is asking private equity firms like Permira Advisers and TPG Capital to increase their competing bids. Other firms that were in the early bidding process include Providence Equity Partners and KKR &Co.
Ancestry.com popped higher on June 5th, following reports that it tapped Frank Quattrone's Qatalyst Partners LLC to assist it in finding potential buyers.
Comments haven't been made by either the company, nor the private equity firms.
Shares of Ancestry.com are up about 0.6 percent on the session, but well off recent highs at $33.80 high in August.
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According to Bloomberg, Ancestry.com potentially turned down a $35 per share bid and is asking private equity firms like Permira Advisers and TPG Capital to increase their competing bids. Other firms that were in the early bidding process include Providence Equity Partners and KKR &Co.
Ancestry.com popped higher on June 5th, following reports that it tapped Frank Quattrone's Qatalyst Partners LLC to assist it in finding potential buyers.
Comments haven't been made by either the company, nor the private equity firms.
Shares of Ancestry.com are up about 0.6 percent on the session, but well off recent highs at $33.80 high in August.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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