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May 2, 2007
Bancrofts Bent Over Dow Deal
The real news tonight in the Dow Jones board announcement it will "take no action" on the News Corp offer is that only 52% of the shares are against. Why? Because the Bancroft family control over 62% of the voting shares via their Class B ownership, with the clear implication being that a signicant percentage of the Bancroft shares are for the deal.My take: This deal is going to get done, and it is going to get done upwards of $70.
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I agree. ;-)