Ancestry.com (ACOM) Rips Higher On Takeover Reports
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Shares of Ancestry.com Inc. (Nasdaq: ACOM) are sharply higher early Wednesday following reports from Bloomberg the company has hired Frank Quattrone's Qatalyst Partners LLC to find buyers.
The news comes after shares have been clobbered after NBC canceled TV series "Who Do You Think You Are?," where the company's services was highlighted.
Private equity firms, or Internet giants like Google Inc. (Nasdaq: GOOG) and Facebook (Nasdaq: FB) could see value in the family-history research website.
Shares of ACOM last traded at $26.25 in pre-open trading, up 16 percent from Tuesday's close.
The news comes after shares have been clobbered after NBC canceled TV series "Who Do You Think You Are?," where the company's services was highlighted.
Private equity firms, or Internet giants like Google Inc. (Nasdaq: GOOG) and Facebook (Nasdaq: FB) could see value in the family-history research website.
Shares of ACOM last traded at $26.25 in pre-open trading, up 16 percent from Tuesday's close.
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