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Here's the full press release along with my take on why there was a "partnership" rather than an outright acquisition:
http://www.elliotsblog.com/breaking-go-daddy-enters-partnership-with-kkr-silver-lake-tcv-3899
http://www.elliotsblog.com/breaking-go-daddy-enters-partnership-with-kkr-silver-lake-tcv-3899