In July 2007, News Corporation entered into an agreement to purchase all of the outstanding shares...

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In July 2007, News Corporation entered into an agreement to purchase all of the outstanding shares of Dow Jones and Company for $63 per share. Immediately prior to the News Corporation bid, the shares of Dow Jones traded at $38 per share. The number of outstanding shares at the time of the announcement was 83 million. The book value of interest-bearing liabilities on the balance sheet of Dow Jones was $1.48 billion. a. Estimate the cost of this acquisition to the shareholders of News Corporation b. What value did News Corporation place on the control of Dow Jones and Company? Note: For all requirements, enter your answers in billions rounded to 2 decimal places. Estimated cost of the acquisition Value of control billion billion In July 2007, News Corporation entered into an agreement to purchase all of the outstanding shares of Dow Jones and Company for $63 per share. Immediately prior to the News Corporation bid, the shares of Dow Jones traded at $38 per share. The number of outstanding shares at the time of the announcement was 83 million. The book value of interest-bearing liabilities on the balance sheet of Dow Jones was $1.48 billion. a. Estimate the cost of this acquisition to the shareholders of News Corporation b. What value did News Corporation place on the control of Dow Jones and Company? Note: For all requirements, enter your answers in billions rounded to 2 decimal places. Estimated cost of the acquisition Value of control billion billion