Bancrofts Close To Accepting Murdoch Bid
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AFP:
Rupert Murdoch's News Corp. appeared close to gaining sufficient approval for its $5 billion bid for Dow Jones & Co from the Bancroft family, The Wall Street Journal said, ahead of a Monday deadline for responding to the offer.
The Bancrofts control 64 percent of the voting shares of Dow Jones, owner of the Wall Street Journal. Slightly less than half of the family's votes faå√vored the deal as of late Sunday, the Journal reported, citing a source close Dow Jones' board. This accounts for 28 percent of the overall voting shares.
First Posted: 3/28/08 Updated: 5/25/11