LAWFUEL – The Legal Newswire – Rupert Murdoch’s attempts to take control of Dow JOnes & Co Inc has been obstructed by a shareholder in the company in a last ditch effort to prevent the News Corp purchase.
Christopher Bancroft, a member of the family that controls Dow Jones & Co Inc, is trying to block a takeover by Rupert Murdoch’s News Corp, a source familiar with the situation said on Monday.
Bancroft has approached hedge funds and private equity firms, hoping to buy enough voting shares of Dow Jones to allow him to thwart a sale, the Wall Street Journal reported on its Web site, citing people familiar with the matter.
Bancroft is trying to buy more “supervoting” shares from other Bancroft heirs who may be ready to sell their stakes, but share his distaste for handing the family legacy to Murdoch, the Journal said.
