Murdoch's bid for Dow Jones under evaluation
New York: The controlling shareholder of Dow Jones, the Bancroft family, is said to be evaluating the unsolicited $5 billion bid from Rupert Murdoch's News Corp.

Rupert Murdoch's News Corp had made a surprise unsolicited $5 billion takeover bid for Dow Jones and Co which owns the Wall Street Journal.

News Corp bid for $60 a share in cash or a combination of cash and stock which is 67 pc above the prevailing price for the media company.

Dow Jones confirmed the bid and said the Bancroft family was evaluating the bid.

The Wall Street Journal said the offer puts a large premium on the company at a time when most newspaper companies are losing readers and advertisers to the Internet.

Dow Jones's controlling shareholders, the Bancroft family — own 24.7 pc of shares outstanding but 64.2 pc of the voting stock.
Back to News Review index page  

Wal-Mart goes in for small stores
Atlanta: Discount retailer Wal-Mart Stores Inc, which is also the world's largest retailer is opening stores in the US that are much smaller than its existing bigger warehouse stores, which have reached a saturation point in the country.

Wal-Mart, which opened its first neighborhood market in 1998, now has about 112 of these smaller stores and plans to open 15 to 20 of them over the next year.

Analysts said the reason for opening smaller stores is that Wal-Mart wants to move into places where it does have a presence.
Back to News Review index page