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Murdoch beat a dead horse and got nowhere with his $60 Dow Jones’ bid. Now comes T. Rowe Price to beat that same dead horse again. But no one expects for the 52% of the Bancroft voting shares to do an about-face and agree to the buyout.
You can see that in the lack of volume in the stock. Naïve investors may have fallen victim to Murdoch’s confidence in a win the first time. They can’t be naïve enough to fall for T. Rowe Price’s inane confidence in a deal.
Still, try as they must, a key shareholder in Dow Jones is calling for the Bancroft family to sell their DJ interest to Murdoch. But don’t hold your breath. We don’t believe the Bancroft family’s decision will be swayed.
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