Bancrofts mull News Corp. bid
EmptyThe Bancroft family that controls Dow Jones & Co. met Monday in Boston for a briefing on the $5 billion takeover bid by Rupert Murdoch's News Corp. The family controls 64% of the voting stock in the financial news and information powerhouse.
A source familiar with the situation said clan members could vote on the deal as early as this week after a few days of mulling.
Given the size and diverging interests of the Bancroft family, observers said it is difficult to predict how they will vote. On Monday, Dow Jones shares declined 0.6% to $54.69, below Murdoch's $60 per-share offer price. News Corp. voting shares closed down 0.3% at $24.37. News Corp. and Bancroft officials declined comment on Monday's briefing or potential voting scenarios.