News Corp. Offers $60 Per Share For Dow Jones
May 1, 2007
News Corp. has made an unsolicited offered to acquire Dow Jones at $60 per share which obviously resulted in an immediate surge in the stock price of Dow Jones.
According to the media and anyone in the “know,” Murdoch has had a long-standing interest in acquiring the Wall Street Journal and its parent company Dow Jones. By going public with the offer, I would assume the Bancroft family is seriously considering it. Given that the initial offer was at a more than 50 percent premium or totaling about $5 billion, there is a good chance Murdoch succeeds.
Although new suitors may appear (mainly the Washington Post), I am not quite sure they will have the pockets to outbid a motivated buyer.
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1. Dow Jones Says Tentative Yes To News Corp Bid « We can’t let nature run Wild! | July 17, 2007 at 6:31 pm
[...] soon become a part of the News Corp family both literally and figuratively. My prediction back on May 1st seems to be coming true. Next stop, Atlantic City and I am betting on [...]
2. Murdoch Wins His Bid for Dow Jones « We can’t let nature run Wild! | August 1, 2007 at 3:38 pm
[...] Given the current state of the business, lack of leadership, and family bickering, it was never is doubt that Murdoch would win yet [...]