December 17, 2012 / 8:05 PM / in 5 years

Judge orders to disclose more info on Permira deal

WILMINGTON, Del, Dec 17 (Reuters) - A Delaware judge on Monday blocked Inc’s shareholder vote on the sale of the the family-research website for $1.6 billion to private equity firm Permira Investment Advisors pending added details on the sale process. shareholders had sued to prevent a vote to approve the deal, arguing the sale was riddled with conflicts, lacked disclosures about the sale process and used legal steps that locked out competing bids.

An attorney for indicated to the court he anticipated those disclosures would be made in time to allow the shareholder vote on the deal on Dec. 27 as scheduled.

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