Deal or no deal? Bancroft family says no deal
Dow Jones & Co. issued a statement after the markets closed saying that a member of the Bancroft family, which controls more than 60 percent of the stock in the company, is not interested in selling the parent of The Wall Street Journal, Barron’s and Marketwatch to News Corp. for $5 billion.
The release stated, “Dow Jones & Company (NYSE:DJ) said that a director who is a representative of the Bancroft family, Michael B. Elefante, has informed the Dow Jones Board of Directors that ‘members of the family and the trustees of trusts for their benefit have advised him that they will vote shares constituting slightly more than 50% of the outstanding voting power of Dow Jones as of April 30th excluding options against the proposal submitted by News Corporation to acquire all of the outstanding shares of Dow Jones common stock and Class B common stock for $60.00 per share.’
“Dow Jones said its Board would factor this information into its evaluation.”
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