Sarah Ellison of The Wall Street Journal reports for Monday’s paper that Dow Jones & Co. is making one last effort to find alternative bidders for the company, which has a $5 billion offer from News Corp.
“Dow Jones directors also hope that the last push could give the company a bit of negotiating leverage with News Corp., which has offered $5 billion for the company, a premium that has so far scared away other bidders. But News Corp. Chairman Rupert Murdoch has shown little interest in sweetening the offer as of yet.
“Tomorrow, a committee of Dow Jones’s board is expected to meet with supermarket magnate Ron Burkle, who has expressed interest in teaming with Dow Jones’s union to find alternatives to News Corp.’s $60-a-share offer, these people said. While Mr. Burkle so far hasn’t put any offer on the table, he requested a meeting with an ad hoc committee of the board that is reviewing offers for the company.”
Read more here.
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