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Rivals Team Up on 11th-Hour Dow Offer

Greenspan, Burkle hatch partial buyout option for W SJ owner

By Peter Fearon,  Newser Staff

Posted Jul 11, 2007 5:08 AM CDT
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(Newser) – Supermarket billionaire Ron Burkle and former MySpace CEO Brad Greenspan may join forces to make at least a partial bid for the Wall Street Journal's parent company, say sources close to the discussions. The pair met yesterday with members of the Dow Jones board to craft an alternative to Rupert Murdoch's $5 billion proposal, though accounts detailing the potential offer differ.

The New York Times reports that the men will launch a bid for part of the company, and are trying to gather a consortium of other investors; the Journal leaves the door open for the possibility of a full takeover scheme. But both accounts note that any non-Murdoch play remains a long shot.

(AP Photo/Elaine Thompson, File)
(AP Photo/Elaine Thompson, File)   (Associated Press)
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'   (Associated Press)
Co., publisher of The Wall Street Journal, in conjunction with the union that represents Journal employees, the head of the union said Tuesday, June 5, 2007. (AP Photo/Keith Srakocic, file)
Co., publisher of The Wall Street Journal, in conjunction with the union that represents Journal employees, the head of the union said Tuesday, June 5, 2007. (AP Photo/Keith Srakocic, file)   (Associated Press)
  (Associated Press)
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Murdoch Eyes the Wall Street Journal

Graphic guide to the proposed takeover at Dow Jones
Wall Street Journal

All in the Family - Murdoch style
Financial Times (UK)

More on the counter offer for Dow Jones
New York Times

More on relative newcomer Greenspan
BusinessWeek

 
newspaper • Rupert Murdoch • Ron Burkle • Wall Street Journal • Dow Jones • Bancroft family • Brad Greenspan • News Corp

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