“The Denver trust, which holds 9.1% of Dow Jones’ voting stock, is seen as an important faction within the Bancroft family,” according to WSJ.com. “The trust is seen as a seller, but had been pushing for a higher price.”
The move puts pressure on Rupert Murdoch’s News Corp. to raise its offer of $60 a share for Dow Jones, publisher of The Wall Street Journal. But the WSJ.com article quoted a person familiar with the situation as saying that News Corp. has no intention of raising the price of its offer.
Dow Jones’ board of directors nearly two weeks ago said it would approve the News Corp. deal.