Ancestry in final talks with three buyout firms on sale -sources
NEW YORK, Sept 10
NEW YORK, Sept 10 (Reuters) - Three private equity firms, including Hellman & Friedman LLC, are still pursuing a potential buyout of Ancestry.com Inc, though a deal remains elusive as the company seeks an offer that tops $1.5 billion, three people familiar with the matter said.
Permira Advisers LLP and TPG Capital LP are also involved in the auction for Ancestry, which has dragged on as none of the potential buyers have met the company's valuation expectations, the people said. The company is seeking an offer above $35 per share, two of them added.
Ancestry is putting pressure on the buyout firms to sweeten their offers after receiving second-round bids that came in last month. One of the people familiar with matter said there was an expectation the company would make a decision by the end of September, even though it has never officially communicated a deadline.
Provo, Utah-based Ancestry, whose website helps users trace their family roots by scouring online records, declined to comment. Permira declined to comment, while Hellman & Friedman and TPG did not immediately respond to a request for comment.
Ancestry boasts about 2 million paying subscribers looking to find out more about their family roots.
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