Ancestry.com Must Disclose Permira Sale Details, Judge Says

Ancestry.com Inc. officials can’t proceed with the $1.6 billion sale of the family-history website to Permira Advisers LLP until it discloses more information about the deal before a Dec. 27 shareholder vote, a judge ruled.

Delaware Chancery Court Judge Leo Strine today told Ancestry officials they can’t close the deal with Permira for now. Ancestry must publicly disclose that its financial adviser wouldn’t issue a fairness evaluation of the deal until officials changed revenue projections and that provisions of the deal barred other bidders from attempting to top Permira’s offer, Strine said.