Rupert Murdoch’s $5 billion bid to acquire Dow Jones, a 65% premium over the company’s current market cap, sent shares soaring nearly 55%, TheStreet.com reports.
And for those mutual funds holding shares in Dow Jones, the announcement was a real boost. One of the funds that got a shot in the arm was the Aston/Optimum Mid Cap Fund, which has 2.38% of its assets in Dow Jones and which rose 1.92% on Tuesday.
The Hotchkis and Wiley Mid-Cap Value Fund, with a 2.82% exposure to the stock, rose 1.65%. And the Allegiant Large-Cap Value Fund, with 1.96% of its assets invested, got a 1.35% bump.