Investors who bounded into Dow Jones' (DJ Quote) stock after they learned of Rupert Murdoch's masterful offer to buy the company on Tuesday now find themselves wondering if the Bancroft family has more backbone than they thought.
After Wednesday's board meeting at the venerable New York publisher, Dow Jones said that shares representing 52% of the company's overall voting power are opposed to the $5 billion buyout offer from Murdoch's media empire, News Corp. (NWS Quote), and its directors will take no immediate action on the bid.
Suddenly, the $5 billion offer that couldn't be refused is starting to look like an offer that has been refused -- at least for the time being. Still, it's clear that Murdoch isn't going anywhere anytime soon. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,464.40 | 1,110.63 | 2,176.05 | 32.79 |
Oil *
77.05
|
|
UP
30.69
|
UP
4.98
|
UP
6.87
|
DOWN
0.38
|
10 Yr
3.28%
SPDR Gold
116.62
|
|
+0.29%
|
+0.45%
|
+0.32%
|
-1.15%
|
Data delayed 20 minutes |
Connect with TheStreet