The strange world of the stock market manifested itself again today on the news that the Bancroft family, which holds the majority control of the shares in the Dow Jones & Co. (DJ), was getting together to talk about the bid by News Corp. (NWS-A) to take over the business for $5 billion, which was a 65 percent premium over the price at the time of the offer.
As a result of the news of the family discussions, the stock climbed by 3 percent to $53.08 during afternoon trading.
The Bancroft family retains a 64 percent ownership of the stock, although not all of the family members have resisted the deal, with about 12 percent of the 
shares owned supporting the bid. That leaves a majority of 52 percent that still oppose the offer.
Rupert Murdoch has been trying to get together with the family to assure them that the editorial independence of the company would remain intact after the deal. So far the family hasn't responded.
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