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Article: SPRING TIME FOR MURDOCK, THOMSON: SEEK DJ, REUTERS Financial services get bids; Dow Jones cool to News Corp. offer.
- Article from:
- NewsInc
- Article date:
- May 7, 2007
CopyrightCOPYRIGHT 2007 The Cole Group. 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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When suitors came calling last week at the world's two largest financial news services, each reacted differently: Dow Jones & Co. Inc. quickly rebuffed an unsolicited offer from News Corp. to be acquired for $60 a share, a roughly 65.5-percent premium on the shares' trading price, while a leading shareholder in Reuters Group PLC said an offer by Thomson Corp. to merge the two companies for something in excess of 8.2 billion ($US16.3 billion) would be a "fabulous combination."
Friday's offer by Thomson to merge with Reuters came too late in the week to effect other media stocks, but the NewsInc. Index climbed almost four percent for the week, while the S&P 500 ...