|
 NEW YORK (AP) - Investors are betting that Dow Jones & Co., publisher of The Wall Street Journal, is now firmly in play, even after the controlling Bancroft family turned thumbs down to a $5 billion bid from Rupert Murdoch.
That was the message from trading in Dow Jones shares Wednesday. The stock, which surged almost 55 percent a day earlier after Murdoch announced his unsolicited bid, fell only 20 cents to end the day at $56 — within shouting distance of the $60 per share offer from Murdoch's News Corp.
Dow Jones said late Wednesday that the company's board would take no action on Murdoch's proposal. The company said a director representing the Bancroft family informed the board that members would vote shares constituting 52 percent of outstanding voting power against the bid, as had been widely expected.
|