(Bloomberg) -- The Dow Jones Industrial Average climbed to a record on the day Rupert Murdoch offered about $5 billion to buy Dow Jones & Co., whose founders created the 30- stock average 111 years ago.
Dow Jones, owner of The Wall Street Journal, surged the most since at least 1980 to lead a rally in newspaper shares including New York Times Co. Announced mergers and acquisitions involving U.S. companies so far this year total $794 billion, 51 percent more than during the same period in 2006, a record year.
Read more at Bloomberg Stocks News
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