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Ancestry.com Inc. Message Board

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  • lmerc5698 lmerc5698 Dec 21, 2012 10:59 PM Flag

    When is the judge due to make his decison on whether the frauds can have the vote on their sweetheart deal?

    I think the decision will be soon prior to the date of the special meeting however it may not be a final answer. It may delay the vote but it more than likely will be some time before a final determination, to many facts. in any event the value of the company is solid and will only get stronger with time. If deal is enjoined there will be another buyer, but the current buyer will more than likely complete the deal at either the current price or some agreed upon increase...they already raised the money. That's the hard part.

    Sentiment: Hold

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    • Enjoin can means to direct something to be done, or not be done, so I'm not sure which one you you meant in comment.

      Since the company continues to show strong cash flow, which will only increase due to the other services they are offering because of recent purchases of other companies, the value of the stock and/or a buyout will surely go up.

      If they are successful in getting the show, "Who Do You Think You Are", back on TV or onto cable, that will help bring in more customers faster.

      Sullivan and Hockhauser claimed that they put the company up for sale because they feared that the company would lose customers, or they wouldn't be able to maintain the same profits when that show was canceled.

      They were wrong about that, as proven with the quarterly reports, just as they were criminally wrong to make a side deal for themselves to award the buyout to Permia, and to bar questions or bids from other bidders that appear to have been superior for the retail shareholders in the amount per share we would have received.

      Sentiment: Hold

      • 1 Reply to iamnathan
      • sorry I meant he would either prevent the meeting from taking place or prevent the sale subject to more information on the facts. Enjoin in this context would prevent something from happening. Its rare that a judge would prevent something from happening unless the facts were unclear or there was more than a hint of something not correct.with respect to behavior or dealing. I think the long term prospects and the short term ones are excellent for the company, think the sale was premature and if the logic behind selling was fear of future performance there would be no sale now and insiders would not be rolling their interest.
        This is one of the those perfect company's; great growth prospects, wonderful financials, no debt and the ability to sustain growth with both internal cash flow and through purchasing other similar businesses'. I am also a little confused with the purchase price of $1.6b at $32.00 per share. There are 43.5m shares and even with options etc the total is about 46.5m so the price should be 1.6b divided by 46.5m shares or about $34.00 per share afrer a provision for $25m in expenses. Interesting.

        Sentiment: Hold

 

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