In July 2007, News Corporation entered into an agreement to purchase all of the outstanding shares of Dow Jones and Company for $53 per share. Immediately prior to the News Corporation bid, the shares of Dow Jones traded at $28 per share. The number of outstanding shares at the time of the announcement was 73 million. The book value of interest-bearing liabilities on the balance sheet of Dow Jones was $1.38 billion.

1. Estimate the cost of this acquisition to the shareholders of News Corporation
2. What value did News Corporation place on the control of Dow Jones and Company?

What is the estimated cost of the acquisition ? in billions

What is the value of control ? in billions