Bloomberg News

Dow Jones's Bancroft Family Rejects Murdoch's Offer (Correct)

May 01, 2007

(Corrects to show the family controls 50 percent of the votes)

Dow Jones & Co. said Bancroft family members who control more than 50 percent of the company's voting shares will reject a $5 billion takeover bid by Rupert Murdoch's News Corp. (NWSA:US)

Director Michael B. Elefante told the board of the family's decision, New York-based Dow Jones said today in a statement. News Corp., the third-largest U.S. media company, announced its $60-a-share bid today. The offer was 65 percent above Dow Jones's closing price yesterday and the shares jumped to $57.88.

To contact the reporter on this story: Cecile Daurat in New York at cdaurat@bloomberg.net Leon Lazaroff in New York at llazaroff@bloomberg.net.

To contact the editor responsible for this story: Emma Moody at emoody@bloomberg.net.


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Companies Mentioned

  • NWSA
    (News Corp)
    • $14.99 USD
    • 0.10
    • 0.7%
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