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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