By USA Today.
NEW YORK - There’s another new twist in the investigation into unusual trading in Dow Jones shares prior to the disclosure of a takeover bid that sent the stock skyrocketing last week.
Since the May 1 disclosure that News Corp. CEO Rupert Murdoch had made a $60-a-share offer for the company, most of the news about how the bid was made has come from Dow Jones’ flagship publication, The Wall Street Journal.
But as internal and external inquiries have begun to delve into who knew what about Murdoch’s bid and when, the Journal, which is considered a newspaper of record by many members of the Wall Street financial community, has had to amend its version of the story.
After reporting for several days that Dow Jones CEO Richard Zannino had met with Murdoch for breakfast during the week of April 9, the Journal reported Thursday that the meeting — at which the subject of a Murdoch takeover was broached — actually occurred on March 29, almost two weeks earlier.
The timing of Zannino’s meeting with Murdoch is important because the Securities and Exchange Commission is investigating allegations that someone leaked news of the deal to outsiders who bought stock and options throughout April. When Murdoch’s bid became public on May 1, shares of Dow Jones stock leapt from $36 per share to $58.
On Tuesday, the SEC froze the Merrill Lynch account of a married couple in Hong Kong who bought 415,000 shares of Dow Jones stock in April and turned a profit of $8.1 million on news of the bid. The SEC noted that the father of the woman involved in the fortuitous purchases of Dow Jones stock wired $3 million into the couple’s account in April.
That individual, Michael Leung, has had significant business dealings with a Dow Jones director, David Li. Li has denied, in The Wall Street Journal, telling anyone about the Murdoch bid.'
Lees verder: http://www.mediachannel.org/wordpress/2007/05/11/facts-on-dow-jones-deal-changing/
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