A raft of firms has had a hand in ensuring News Corporation's much-anticipated acquisition of Dow Jones was successful.
Fried Frank Harris Shriver & Jacobson corporate partners Art Fleischer and Philip Richter advised Dow Jones on the $5.6bn (£2.75bn) acquisition. Non-family members of Dow Jones's board of directors turned to Simpson Thacher & Bartlett partners Dick Beattie and Rob Spatt, as well as associate Nomaan Raja.
The Bancroft family, which has owned a controlling stake in the publishing company for 105 years, turned to Wachtell Lipton Rosen & Katz. Corporate partners Martin Lipton and Joshua Cammaker acted alongside tax partner Deborah Paul.
Rupert Murdoch's News Corporation turned to Skadden Arps Slate Meagher & Flom, with corporate partners Lou Kling and Howard Ellin advising.
Dow Jones' in-house counsel Joe Stern and News Corporation's Lon Jacobs also played significant parts in the deal.
The much-publicised merger of the two companies was given the go-ahead today (1 August) after members of the Bancroft family finally gave it their approval. Under the terms of the deal Dow Jones stockholders are entitled to receive $60 (£29.50) in cash for each share of common stock and Class B common stock that they own.
The parties have also agreed on the terms of an editorial agreement that will see a five-member special committee set up to assure the journalistic and editorial integrity and independence of Dow Jones's publications and services.
The deal is expected to close in the fourth quarter, at which time News Corporation will appoint a member of the Bancroft family, or another mutually acceptable person, to its board.