Dow Jones & Company, Inc. (NYSE: DJ) announced today that its stockholders voted at a special meeting to approve the previously announced merger agreement with News Corporation. The stockholder vote satisfies the final condition for the completion of the transaction. The merger is expected to close and become effective at approximately the close of business on Dec. 13, 2007.
Pursuant to the terms of the merger agreement, Dow Jones stockholders will receive $60 in cash for each share of common stock and Class B common stock that they own, except to the extent that they properly made a unit election. All Dow Jones stockholders that properly made a unit election will receive 2.8681 Class B common units of Ruby Newco LLC, a News Corporation subsidiary that will own all the shares of Dow Jones, for each Dow Jones share for which a unit election was properly made.
Dow Jones reported that shares representing approximately 60.3% of the outstanding voting power of the Company were cast in favor of the merger. Approximately 77.6% of the outstanding shares of common stock and approximately 54.1% of the outstanding shares of Class B common stock were voted in favor of the transaction. Of the shares that were voted, approximately 94.7% of the common stock and 77.7% of the Class B common stock were voted in favor of the merger.
About Dow Jones
Dow Jones & Company (NYSE: DJ; dowjones.com) is a leading provider of global business news and information services. Its Consumer Media Group publishes The Wall Street Journal, Barron's, MarketWatch, eFinancialNews and the Far Eastern Economic Review. Its Enterprise Media Group includes Dow Jones Newswires, Factiva, Dow Jones Client Solutions, Dow Jones Indexes and Dow Jones Financial Information Services. Its Local Media Group operates community-based information franchises. Dow Jones owns 50% of SmartMoney and 33% of STOXX Ltd. and provides news content to CNBC and radio stations in the U.S.