Sacha Pfeiffer of The Boston Globe writes Friday that Boston attorney Michael Elefante, who represents the Bancroft family trusts that control Dow Jones & Co., will play a key role when the family meets next week to decide whether to sell the company to News Corp.
Pfeiffer wrote, “When the family members meet in Boston on Monday, Elefante will handle the delicate tasks of mediating among opposing factions and balancing the needs of current and future trust beneficiaries. The time and location of the gathering have not been made public.
“Monday’s meeting will be informational, according to a Bancroft family spokesperson. No vote will be held and no sale decision will be made. Participants will be briefed on the deal’s status and given an opportunity to air their opinions and ask questions.
“Once the meeting ends and family members have had several days to consider the proposal, Elefante will canvass the family members individually to determine whether they support the sale. He will then inform News Corp. and the Dow Jones board of the family’s level of support.”
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