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Ancestry.com Inc. Message Board

lmerc5698 3 posts  |  Last Activity: Dec 22, 2012 8:52 AM Member since: Dec 21, 2012
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  • lmerc5698 lmerc5698 Dec 22, 2012 8:52 AM Flag

    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

  • lmerc5698 lmerc5698 Dec 21, 2012 11:19 PM Flag

    The debt is not a drag if this deal goes sour, it can simply be repaid or used for general corporate purposes.....stock buy back at the current price. This would repurchase 9m shares or about 20% of the outstanding and be an enhancement to the eps. Also the company pays taxes so the interest expense is tax deductible and the after tax cost will be largely offset by the increase in eps and ultimate equity value. Don't forget private equity today models deals based on a 20% irr which basically doubles equity value every 4 years....why would this be different if the company stayed public? In the short term the price may go down but the real value is there and will be realized....

    Sentiment: Hold

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

    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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