Tuesday, May 1, 2007

Should Have Bought Dow Jones Yesterday

NEW YORK (AP) — Dow Jones (DJ), publisher of The Wall Street Journal, said Tuesday that it has received an unsolicited bid from Rupert Murdoch's media company News Corp. (NWS) to buy the company for $60 a share, or $5 billion.
Shares of the financial news publishing company soared after the cable news channel CNBC reported news of the offer earlier Tuesday.
After opening at $37.12, the shares jumped $20.95, or 58%, to $57.28 before being halted on the New York Stock Exchange for news pending. They had traded in a 52-week range of $32.16 to $40.08 before Tuesday's news.