Dow Jones ready to consider News Corp. bid

By Lisa Kerner

Charlotte, N.C., July 18 - Dow Jones & Co.'s board of directors said it would recommend to its shareholders, including the Bancroft family, a merger agreement that reflects the $60-per-share cash proposal offered by News Corp. for all of the outstanding shares of Dow Jones' common stock and class B common stock.

News Corp. said its board would authorize a merger agreement if members of the Bancroft family and related trusts enter into voting agreements in support of a transaction.

Dow Jones' board has reviewed drafts of a merger agreement, an editorial agreement and a voting agreement.

Bancroft family spokesperson Michael B. Elefante said the family and the trustees of trusts for their benefit are also evaluating the proposed transaction with News Corp., according to a company news release.

Dow Jones is a provider of business news and information services based in New York.

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