What You Should Have Read, July 27, 2007

What You Should Have Read, July 27, 2007

Published on .

Key Bancroft Family Trust to Vote Against News Corp. Bid for Dow Jones
The Wall Street Journal reports today that the Denver branch of the Bancroft family, Dow Jones' controlling shareholder, is to vote against accepting News Corp.'s $60 a share offer, putting pressure on News Corp. to raise its offer. The Denver trust, which holds 9.1% of Dow Jones's voting stock, have argued that the super-voting B class shareholders should receive a premium of 10% to 20% over the $60 offer, meaning they would like Rupert Murdoch to pay an extra $120 million to $240 million. Mr. Murdoch has indicated he's not willing to raise the offer. And don't miss Crawford Hill's letter to his family urging them to sell.
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