The Faux Street Journal? Murdoch Bids on Dow Jones
CNBC is reporting that Rupert Murdoch has offered $60 per share to buy Dow Jones & Company.
The unsolicited bid has sent shares of DJ soaring 50% to more than $56 per share.
A bid for Dow Jones makes sense, as its crown jewel, the Wall Street Journal, would be an amazing property for Murdoch to build his desired financial news network around. Dow Jones is closely held, with the Bancroft Family owning the voting class of shares, so no deal is necessarily imminent. Of course, a 50% premium will not be easy to ignore.
As PaidContent points out, this could easily trigger a bidding war for the Company.
The coming days and weeks should be interesting...
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