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Article: Dow Jones receives sale bid; Rupert Murdoch's News Corp. offers $5 billion for publisher of Wall Street Journal.(Business)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- May 2, 2007
CopyrightCOPYRIGHT 2007 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: SETH SUTEL - Associated Press
NEW YORK - Dow Jones & Co., publisher of The Wall Street Journal, said Tuesday it received an unsolicited bid from Rupert Murdoch's News Corp. to buy the company for $5 billion, but the family that controls the company said it would oppose the deal.
Dow Jones said its board had received the offer from News Corp. to buy the company at $60 a share, either in cash or a combination of cash and News Corp. stock. News of the offer was first reported on CNBC.
However, Dow Jones said later Tuesday that the Bancroft family, the company's controlling shareholders, intended to vote shares representing just over 50 ...