Dow Jones shareholders must elect units or cash by Dec. 12 in deal with News Corp.

By Lisa Kerner

Charlotte, N.C., Dec. 5 - Dow Jones & Co., Inc. stockholders have until 5 p.m. ET on Dec. 12 to elect to receive Newco class B common units in exchange for Dow Jones shares in the company's proposed acquisition by News Corp.

Stockholders who do not properly make a unit election prior to the deadline will receive $60 in cash for each of their Dow Jones shares, according to a company news release.

As previously reported, Dow Jones' shareholders are set to vote on the merger with a News Corp. subsidiary at a special meeting on Dec. 13.

If the $60-per-share merger is completed, Dow Jones will become an indirect subsidiary of News Corp.

The companies announced the deal on Aug. 1. It was previously reported that the transaction was valued at some $5.6 billion.

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

News Corp. is a New York-based vertically integrated media company.

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