Supermarket billionaire Ron Burkle is set to meet with members of the Dow Jones board today to discuss a possible bid to rival that of News Corp. magnate Rupert Murdoch.
Mr. Murdoch is said to be hammering out the details of a deal, and London newspapers Friday declared it all but done.
Still, rumors surfacing over the weekend that Mr. Burkle would meet with board members were confirmed yesterday.
Of course, all reports offer the conventional wisdom that Mr. Burkle is unlikely to be able to top Mr. Murdoch’s offer of $5 billion.
Quoth The Financial Times: “At most, Mr Burkle’s lingering presence could put pressure on News Corp to lift its bid beyond the current 60 per share.”
Dow Jones Casts Net For Rival Bidder (Financial Times)