The board of Dow Jones is making a last-ditch attempt to find a rival bid for the company as the parent of the Wall Street Journal enters the final stretch of negotiations to be acquired by Rupert Murdoch’s News Corp.

According to people familiar with the matter, the ad-hoc committee of Dow Jones directors is set to meet with Ron Burkle, the California billionaire, to discuss his interest in buying the company. The meeting will take place on Tuesday, despite previous suggestions that it would happen on Monday.