Continuing Coverage of the Dow Jones Story
In what should become the defining moment in the outcome of the bid for Dow Jones (DJ) by News Corp. (NWS-A) and Rupert Murdoch, News Corp. will meet with board members of Dow Jones this week, says Financial Times, citing the Wall Street Journal.
Murdoch let it be know last week in the press that he was getting tired of the Bancrofts changing their minds one day to the next. Of course it shouldn't have been an issue, as they allegedly gave the Dow Jones board the power to negotiate on their and shareholders behalf.
With the major hurdle of "editorial control" being completed, there really shouldn't be much more that should stand in the way of the deal going through. The bid by Brad Greenspan and involvement of Ron Burkle sound like it's gone nowhere according to insiders, so that should be out of the way.
What's left is a final price and a few loose ends to tie up. That shouldn't be much of a problem with News Corp.'s more than generous offer of $60 a share for Dow Jones, which was far above the share price at the time of the bid.
According to Dow Jones, there has been progress made, which evidently is leading to the meeting this week. If there is a tentative agreement reached, it will be sent to the Bancroft family and the full Dow Jones board for approval. In the end it's really the Bancrofts that will decide the outcome.
It will be interesting to see if these negotiations have been going on in good faith by the Bancrofts.
Related Coverage:
Here we go again: Another Bancroft Panics Over Dow Jones Being Bought by Rupert Murdoch
Rupert Murdoch Sends Message will Start Business Channel with or without Dow Jones
Ron Burkle, Brad Greenspan Exploring Purchasing Dow Jones & Co. Together
Rupert Murdoch Bid for Dow Jones Already Saving Them Jobs
Dow Jones says Story about Completed Deal with Murdoch False
Wall Street Journal Editor Supports Dow Jones, News Corp. Agreement
New York Times Article says if Murdoch buys Wall Street Journal, Dark Day for American Democracy
What the Real Battle over Dow Jones is About
Rupert Murdoch Retains Power to Hire and Fire at Wall Street Journal
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» Dow Jones Negotiations Winding Down: Tentative Agreement to be Given to Bancroft Family from ManagersRealm
Continuing Coverage of the Dow Jones StoryThe final pieces of the negotiations for Dow Jones & Co. (DJ) and News Corp. (NWS-A) are in place, as a tentative agreement has been reached by the two sides, according to the Wall... [Read More]
Tracked on: July 16, 2007 11:38 PM | Permalink to Trackback