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In the Media

article imageUpdate: Dow Jones board recommends acceptance of News Corp takeover

article:207811:2::0
By Paul Wallis
Jul 18, 2007 in Business
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It’s official. The Dow Jones board voted for acceptance of the offer, and four of the board are Bancroft family members. However, two of them didn’t take part in the vote. The family may yet block the takeover, despite the board’s acceptance.
There’s another situation waiting in the wings. It’s possible that a rejection by the family might rebound on the Bancrofts. The current share price is largely maintained by the offer price. If they reject the bid, the stock price might revert to its much lower original level. That would be an expensive, unproductive, result.
The family was unable to agree, initially. It asked the Dow Jones board to negotiate on its behalf. The question is now whether that original indecision will now translate into a decision.
article:207811:2::0
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