San Francisco, CA, (November 15, 2004) Morrison & Foerster LLP is representing business news information provider MarketWatch in its announced deal to be acquired by Dow Jones & Co. for $519 million.
"This is an extremely successful transaction for stockholders of MarketWatch," said Robert Townsend, a partner at Morrison & Foerster, who is also co-chair of the firm's corporate practice. "It is always challenging to operate under heavy media scrutiny, but the shareholders should be pleased by the results."
Mr. Townsend previously represented MarketWatch in its acquisition of Pinnacor in January 2004. Morrison & Foerster also represents the NASDAQ-listed company in its SEC filings.
Dow Jones offered $18 a share for San Francisco-based MarketWatch, which including $56 million in cash on its books puts the value of the deal at $519 million.
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