News Corporation has succeeded in purchasing the Dow Jones & Company, the 125-year-old financial information firm and publisher of The Wall Street Journal in a three month long $5 billion takeover bid. Rupert Murdoch is the chairman and cheif executive officer of News Corporation. The Bancroft family, which owns 64.2\% of the Dow Jones' voting power met Tuesday and finalized the deal amid opposition from some key members who were fearful that Journal's reputation and content would be altered. Last week, the board of the Dow Jones approved the sale, a $ 60-a-share bid which represents a 67\% premium above Dow Jones's share price at the time of the offer. Yesterday, the News Corp. board gathered and gave the thumbs up for the acquisition, leaving only the Bancrofts to decide on the outcome. Murdoch announced News Corporation's bid in May, and has maintained his company's position because of the lack of rivals. A Bancroft representative had approached other potential buyers, including billionares Warren Buffett and Bill Gates, who both declined.
News Corporation has succeeded in purchasing the Dow Jones & Company, the 125-year-old financial information firm and publisher of The Wall Street Journal in a three month long $5 billion takeover bid. Rupert Murdoch is the chairman and chief executive officer of News Corporation. The Bancroft family, which owns 64.2\% of the Dow Jones' voting power met Tuesday and finalized the deal amid opposition from some key members who were fearful that Journal's reputation and content would be altered. Last week, the board of the Dow Jones approved the sale, a $ 60-a-share bid which represents a 67\% premium above Dow Jones's share price at the time of the offer. Yesterday, the News Corp. board gathered and gave the thumbs up for the acquisition, leaving only the Bancrofts to decide on the outcome. Murdoch announced News Corporation's bid in May, and has maintained his company's position because of the lack of rivals. A Bancroft representative had approached other potential buyers, including billionaires Warren Buffett and Bill Gates, who both declined.
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$5 billion takeover bid. Rupert Murdoch is the chairman and cheif executive officer of News Corporation. The Bancroft family, which owns 64.2\% of the Dow Jones' voting power met Tuesday and finalized the deal amid opposition from some key members who were fearful that Journal's reputation and content would be altered. Last week, the board of the Dow Jones approved the sale, a $
$5 billion takeover bid. Rupert Murdoch is the chairman and chief executive officer of News Corporation. The Bancroft family, which owns 64.2\% of the Dow Jones' voting power met Tuesday and finalized the deal amid opposition from some key members who were fearful that Journal's reputation and content would be altered. Last week, the board of the Dow Jones approved the sale, a $
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billionares
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