Investors expect a better offer

Article Excerpt

DOW JONES & CO. INC. $53 (New York symbol DJ; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 83.8 million; Market cap: $4.4 billion; WSSF Rating: Above average) continues to trade below News Corp.’s takeover offer of $60-a-share, as it looks like enough members of the Bancroft family plan to oppose it. The family controls 82.4% of the company’s class B shares, which carry 10 votes per share. If you include their regular stock holdings, they control 64.2% of the company’s total votes. The stock will probably make little progress unless News Corp. raises its bid, or Dow Jones finds another buyer. The stock is a hold. GANNETT CO. INC. $58 (New York symbol GCI; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 234.7 million; Market cap: $13.6 billion; WSSF Rating: Above average) also moved up on speculation that it could become a takeover target. Unlike Dow Jones, it has no controlling stockholder. But it owns several under-appreciated media assets, including USA Today, the…