Shares of Dow Jones are surging (chart) on reports from CNBC that News Corp. made an unsolicited takeover bid for the company. The $5 billion offer ($60/share) would be a 65 percent premium to yesterday’s close.
UPDATE: Dow Jones confirmed that News Corp. has made a takeover offer, and it says it has hired advisors to help it consider whether or not to sell. From the press release: “The Board of Directors and members and trustees of the Bancroft family, who hold shares representing a majority of the Companyâ€™s voting power, are evaluating the proposal. There can be no assurance that this evaluation will lead to any transaction.”
ALSO: See a list of Dow Jones properties here. Beyond the WSJ, it also includes Marketwatch, Barron’s and Factiva.
UPDATE from the WSJ: “The mere possibility that Mr. Murdoch could get control of The Wall Street Journal is almost certain to spark a firestorm of controversy…. Disclosure of the Murdoch offer — and the company’s evaluation of it — is likely to bring other potential buyers into the picture.” More… (sub. req.)