When Rupert Murdoch's
announced its surprise $5 billion bid to acquire Dow Jones, it sent shares in the financial news publisher soaring nearly 55%.
The deal, which at $60-per-share represents a staggering 65% premium --
whether it happens or not -- was a boon to a few mutual funds with significant holdings of the stock.
The big winners from yesterday's news, aside from
owners of Dow Jones stock, are those who own the
Mid Cap fund (CHTTX), which increased 1.92% for the day and has 2.38% of its assets in
The Wall Street Journal
publisher as of Feb. 28, according to fund tracker Morningstar.
Hotchkis and Wiley
Mid-Cap Value I fund (HWMIX) has the largest percentage of its assets tied to Dow Jones of any mutual fund, with 2.81%. The fund saw a 1.65% bump in yesterday's trading.
Another fund benefiting from the news is the
Large-Cap Value fund (AEIIX), which has 1.96% of the portfolio's assets in Dow Jones. That fund saw a 1.35% increase yesterday.