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Inside out

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Why you can trust SCMP
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March 29, 2007: News Corporation chief executive officer Rupert Murdoch meets Dow Jones CEO Richard Zannino to propose acquiring all outstanding Dow Jones shares at US$60 per share.

April 12: David Li Kwok-po learns of News Corp offer in a telephone call with Dow Jones' general counsel.

April 13: Mr Li and Michael Leung Kai-hung travel to Shanghai together. On the flight, Mr Li is alleged to have disclosed the non-public information. On arrival, Mr Leung is alleged to have begun making telephone calls to prepare for the purchase of Dow Jones shares.

April 17-27: Dow Jones prepares formal offer. Mr Li receives periodic updates and is alleged to have communicated regularly with Mr Leung.

May 1: Dow Jones announces the News Corp offer. Share price rises from US$37.12 per share to US$56.20 at close of day.

May 4: Mr Leung sells 415,000 Dow Jones shares, at a profit of US$8.1 million.

May 8: United States Securities and Exchange Commission files lawsuit against Wong Kan-king and his wife, Charlotte Wong Leung Ka-on (Mr Leung's daughter), in US District Court for insider trading.

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