Just a little family gathering
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The Bancroft family was holding a get together yesterday, apparently to discuss the 60 bucks per share offer that News Corporation CEO Rupert Murdoch has made for the company that they control, Dow Jones & Co. Word of the meeting comes from the Wall Street Journal, owned by Dow Jones, which said there was no formal agenda and family members would be able to openly debate their ownership strategy.
Family members holding over 52% of the voting power of Dow Jones have already rejected the Murdoch offer, but some of the Bancrofts reportedly want to discuss the offer further, as well as other alternatives. According to the WSJ, those might include seeking other potential buyers, exploring a merger with another media company, or buying out public shareholders to take Dow Jones private.
Family members holding over 52% of the voting power of Dow Jones have already rejected the Murdoch offer, but some of the Bancrofts reportedly want to discuss the offer further, as well as other alternatives. According to the WSJ, those might include seeking other potential buyers, exploring a merger with another media company, or buying out public shareholders to take Dow Jones private.
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