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GoDaddy Business Auction Cancelled

As WSJ reports, the private auction for domain registrar and hosting company GoDaddy was broken off last week while some potential buyers were performing due diligence.

Potential bidders, including private-equity firms General Atlantic and TPG, were called last week and told the auction was off, the people said, leaving the interested parties hanging in the middle of due diligence. General Atlantic, which owns GoDaddy.com’s smaller competitor, Network Solutions, may have partnered with a couple of other buyout shops to make an offer, one of the people said. Now those efforts are over

The bidders in the second round of the auction were well enough equipped to meet GoDaddy’s asking price tag of 1.5 to 2 Billion USD. None of the bidders was informed as to the reasons why the auction was pulled.

Editor’s Note: The pulling of the auction seems similar to the withdrawal of the IPO the company in 2006.