ISS Recommends Vote "FOR" Acquisition Of Ancestry.com By Permira
PROVO, Utah, Dec. 11, 2012 (GLOBE NEWSWIRE) -- Ancestry.com (Nasdaq:ACOM), the world's largest online family history resource, today announced that Institutional Shareholder Services ("ISS"), one of the leading independent U.S. proxy advisory firms, has recommended that the stockholders of Ancestry.com vote "FOR" the proposals in its proxy statement for the special meeting scheduled to be held on December 27, 2012 at the Provo Marriott Hotel and Conference Center, which is located at 101 West 100 North, Provo, Utah 84601, on December 27, 2012, at 8:30 a.m. Mountain Time.
At the special meeting, Ancestry.com's stockholders will be asked to consider and vote on proposals including (i) to adopt the merger agreement pursuant to which affiliates of Permira, a leading private equity firm, will acquire the Company, (ii) to approve certain compensation that may become payable to Ancestry.com's named executive officers in connection with the merger and (iii) to adjourn or postpone the special meeting, if necessary, to permit the further solicitation of proxies if there are not sufficient votes at the time of the special meeting to adopt the merger agreement.
In its recommendation of the proposal to adopt the merger agreement, ISS stated "a vote FOR this proposal is warranted based on the company's rationale, premium received, support of a large shareholder, and the sales process conducted which included a market check."*Your vote is important, regardless of the number of shares you own, and all Ancestry.com stockholders are encouraged to vote. The adoption of the merger agreement by the affirmative vote of holders of a majority of the outstanding shares of Ancestry.com common stock is a condition to the completion of the merger. The advisory (non-binding) proposal to approve specified compensation that may become payable to the named executive officers of the Company in connection with the merger, and the proposal to adjourn the special meeting to solicit additional proxies, if necessary, require the affirmative vote of holders of a majority of the voting power present and entitled to vote thereon.
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