Shark Eats Shark: Why Dow Jones Made Its Move On Telerate
THIS WEEK'S LEAD STORIES
And so drops the other shoe. After four years of acquisition through small bites, Dow Jones & Co. has bid $18 a share to gulp down the one-third of Telerate, Inc. it doesn't already own. The tender offer began Sept. 26 and expires at midnight Nov. 3.
Investors apparently think $18 is low, because Telerate has been trading above $20 since Dow Jones made its intentions known Sept. 21. The largest block of Telerate stock outstanding -- over five million shares -- is owned by the company's president
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