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Article: Last days of the Bancrofts; COMMENT.(Column)
- Article from:
- Daily Mail (London)
- Article date:
- June 2, 2007
CopyrightCOPYRIGHT 2007 Solo Syndication Limited. 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: ALEX BRUMMER
VERY often in takeover situations, if you knock on the door hard enough someone will eventually answer. Having initially refused to even countenance an offer from Rupert Murdoch, the Bancroft family, proprietors of Dow Jones, have now conceded a meeting with the media tycoon.
The change of heart follows an intervention by outside investor T Rowe Price, which holds 15pc of the stock.
Certainly, the concern of the Bancroft family cannot be price. The Murdoch offer at [pounds sterling]2.5bn represents a 64pc premium to the share price prior to News Corp's initial foray.
Reservations within the Bancroft family and the ...