`Overlooked Asset,' Rupee Effect, Harry Potter and the Aftermath: Timshel

(Bloomberg) -- If Rupert Murdoch changed his mind
and bought Dow Jones & Co. in a stock swap, the purchase would
hardly dent News Corp.'s treasury.

The $5 billion that Murdoch has offered for the publisher
of the Wall Street Journal is equivalent to 204 million of his
company's Class A shares, which include voting rights, or 220
million non-voting Class B shares.


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Rio shares on trading halt amid Alcan bid reports

(Reuters) - Rio was near a deal to buy Alcan for about $100 per share, or $37 billion, topping Alcoa Inc.'s $28.8 billion offer already on the table, the Wall Street Journal Online reported earlier.




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Murdoch says Dow Jones price 'worth paying'-Time

(Reuters) - Murdoch, the chief executive of global media conglomerate News Corp. , has long coveted the publisher of the Wall Street Journal newspaper, seen as one of the world's most reputable business news source.



But it was not until News Corp. planned to take on General Electric Co.'s CNBC channel with the upcoming Fox Business Channel, that Murdoch rationalized offering to pay $60 per share, a 65 percent premium, for an "economically stagnant" newspaper publisher, Time reported on its Web site.


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US Treasury to review financial services rules

(Reuters) - Speaking at a conference organized by the Wall Street Journal, Paulson said over the next six months, Treasury willcreate a blueprint for a modern regulatory regime that embraces best practices guidelines.



"This is not an easy topic. It's a very important topic: how to have the regulatory structure that's going to operate the way it should in the 21st century," he said. "We would like this obviously to lead to action. We're optimistic that it can."


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NY seeks Wal-Mart records on alleged surveillance

(Reuters) - The comptroller, who is the investment advisor for New York City's pension funds, said he wants to inspect and copy all books and records referring to the proponent of any shareholder proposal submitted to Wal-Mart between 2002 and the present.




As noted in Thompson's letter, news of the alleged surveillance was first reported on April 4 by the Wall Street Journal. On April 20, Wal-Mart sent shareholders a letter saying it had conducted a "lengthy internal investigation" and denied the surveillance had occurred, Thompson recounted.


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GE/Pearson consider Dow Jones bid

(Reuters) - One possibility being considered could see the controlling
Bancrofts keep an interest in Dow Jones, which owns the Wall
Street Journal, that source said. That confirmed earlier
reports by the Financial Times and the Wall Street Journal.




General Electric owns the CNBC business television channel,
and faces competition from News Corp., which is
launching a business news channel of its own. Pearson owns the
pink-paged business paper the Financial Times and competes with
the Wall Street Journal.


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US STOCKS-Indexes dip as oil tops $69, home builders sag

(Reuters) - NEW YORK, June 18 - U.S. stocks slipped on Monday
as oil climbed toward a 10-month high near $70 a barrel, taking
a toll on energy-dependent sectors, while more worrisome data
from the housing sector weighed on home builders.




Adding to the wary mood, the Wall Street Journal said
Merrill Lynch & Co. took control of $400 million of
loan assets underlying a troubled hedge fund at Bear Stearns
Cos. Inc. Merrill was a chief lender to the fund, which
was heavily invested in subprime loans.


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BC Partners near deal to buy Intelsat: source

(Reuters) - It would be the largest solo deal in the firm's 18-year history and its first acquisition of a company with U.S. headquarters.




BC Partners was locked in an auction with a bidding duo consisting of Liberty Media Holding Corp. and EchoStarCommunications Corp. , which could make a fresh offer, according to the Wall Street Journal, which cited people familiar with the matter.


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Wall St. set for higher open on M&A

(Reuters) - Shares of Alcoa rose 3 percent in Europe after the Times newspaper in London reported BHP Billiton Ltd./Plc , the world's biggest mining group, has revived plans for a $40 billion takeover of the aluminum producer.




In other deal news, General Electric Co. and Pearson Plc may challenge News Corp.'s $5 billion bid for Dow Jones & Co. with a plan that could let Dow Jones's controlling Bancroft family keep an interest in the company, the Financial Times and The Wall Street Journal reported on their Web sites.


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US Airways set to announce Airbus order: reports

(Reuters) - But The Wall Street Journal said US Airways was finalizing an order for as many as 30 jetliners, valued at $7 billion at list prices.




A spokesman for US Airways said he could not comment on the reports.


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TPG, Silver Lake near deal for Avaya -WSJ

(Reuters) - NEW YORK, June 4 - Private equity firms TPG Capital LLP and Silver Lake Partners are in a leading position to buy telecommunications equipment company Avaya Inc. for about $17 per share, The Wall Street Journal reported in its online edition on Monday.



The offer would represent a 6 percent premium over Avaya's Friday close of $16.08. Amid buyout speculation, the company's stock had jumped 15 percent last week to its highest level since 2005. The deal could break down, or Avaya could fall into the hands of another suitor, such as Canada's Nortel Networks Corp. , the Journal reported, citing people familiar with the matter.


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