Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Tuesday, May 1, 2007

Murdoch Makes Bid for Dow Jones

Rupert Murdoch's News Corp. has made an unsolicited $5 billion offer to buy Dow Jones & Co., the parent of the Wall St. Journal.  While reportedly shares representing a majority of the voting power are opposed to the offer, it is not clear if they are opposed to a buyout, a buyout from Murdoch, or the price (which, at $60 per share, is a hefty premium over market).  This should get interesting.  See WSJ, Murdoch's News Corp. Makes $5 Billion Bid for Dow Jones. 

P.S.  A WSJ blog also reports heavy unexplained trading in Dow Jones options in recent weeks.  See WSJ, A Preannouncement Leak for Traders of Dow Jones Options?

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