The Bancroft family is now deciding whether or not to approve the bid from News Corp.
The family that controls Dow Jones & Co (DJ.N) expects to decide by early next week if it wants to sell the company to Rupert Murdoch’s News Corp (NWSa.N) for $5 billion, a source familiar with the matter said on Tuesday.
The Bancroft family holds 64 percent of Dow Jones’s voting shares and their adviser, Hemenway & Barnes lawyer Michael Elefante, is canvassing family members this week to see if they would approve the bid.
The process should be complete around the beginning of next week, the source said, who asked not to be named.
What do you think they’ll do? Me? I predict the sale will go through, with approximately 28% of the shareholders voting against the sale.
One Response to “How Will The Bancrofts Vote?”
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Denver Bancrofts want more for their voting shares than common share stockholders? Now where is the integrity of the family? The common stockholders are still putting their money into the company…wake up Bancrofts and either walk the talk or quit acting like you are better than the rest.