Dow Jones and News Corp come to terms


Dow Jones and News Corp come to terms

Filed under: Deals, News Corp'B' (NWS), Dow Jones and Co (DJ)Late yesterday, a special committee of the board of Dow Jones (NYSE: DJ) reached an agreement (subscription required) with News Corp (NYSE: NWS) for Rupert Murdoch's company to buy the financial publisher for $5 billion.The deal will now go to the entire Dow Jones board for a vote today. It is almost certain to be approved. The last step will be the approval of the Bancroft family, which is still in question.Murdoch has played his hand almost perfectly. The Bancrofts wanted to at least get him to sweeten his bid. But, as other offers fell short, he found that unnecessary. The 67% premium that he offered was too steep a price for other bidders. It may be years ...

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