Business Services Industry
Murdoch tilts at bigger slice of US media.
Australasian Business Intelligence, May, 2007
Byline: Robert Guy
May 02, 2007 (The Australian Financial Review - ABIX via COMTEX) -- There is speculation that News Corporation's unsolicited $US60 per share offer for Dow Jones will struggle to succeed. The publisher of "The Wall Street Journal" has rejected the approach, despite Rupert Murdoch describing the offer as "big, generous". Allen & Company, Centerview Partners and JP Morgan - News Corporation's advisers - are continuing to negotiate with the Bancroft family advisers - Merrill Lynch and Wachtel Lipton. On 2 May 2007 News Corporation shares fell $A0.56 to $A28.57 and non-voting scrip slumped $A0.64 to $A26.36. This compares with Dow Jones shares previously rising $US19.87 to $US56.20, or 55 per cent.
Publication Date: 3 May 2007...
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