Murdoch/Dow Jones: Will the Bancrofts sell?
At least one analyst from Citigroup has suggested that Murdoch may sweeten his offer to $64 a share (up from $60) and if so, that there is a 65% chance that the Bancrofts will sell. If the bid is ultimately rejected, Dow Jones shares will plummet back to their pre-offer level, says the analyst, quoted in Canada's National Post.
It's also possible that the Bancrofts might ultimately be forced to sell. Two of their shareholders have sued the company claiming that the family is neglecting the interests of its shareholders in favor of its own hubris.
Quotes from a former Dow Jones employee, Jim Ottaway, who holds over 6% of the company's shares justify the claim of the suing shareholders. "We're not trying to get another $2 a share. We don't want to sell to Murdoch for $75 a share...It's the principle, not the price .... It's the person, not the price," Ottaway told Reuters.
Sources: National Post, Reuters
0 TrackBacks
Listed below are links to blogs that reference this entry: Murdoch/Dow Jones: Will the Bancrofts sell?.
TrackBack URL for this entry: http://www.editorsweblog.org/mt/mt-tb.cgi/5121
Your site is interesting. We got the information about your site. Even we have a similar site as would like to give some information about our site.....The big money goes to those companies with superior marketing operations. Entrepreneurial companies of today must evolve from being sales oriented to being marketing oriented in order to now win the consumer......more information click the link marketing