Murdoch Dow Bid Dead?

The Journal‘s Matthew Karnitschnig reports that the Denver branch of the Bancroft family &#151 previously thought to be in favor of selling the company — will vote against proposed $5 billion takeover of the Dow Jones Co. “The Denver trust, which holds 9.1 percent of Dow Jones’s voting stock, is seen as an important faction within the Bancroft family. The trust is seen as a seller but had been pushing for a higher price,” Karnischnig writes. The votes could swing the deal, which has been ‘too close to call‘, so Rupert Murdoch will likely have to raise his offer of $60/share if he wants to acquire his gleaming prize.

Check back throughout the weekend. We promise to keep you updated.


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