Thomson Aims to Buy Reuters

By Peter Fearon,  Newser Staff
Posted May 9, 2007 8:00 AM CDT
Thomson Aims to Buy Reuters
The front entrance to the Reuters headquarters building in London, Friday May 4, 2007. Reuters Group PLC and Thomson Corp. confirmed in a statement Tuesday May 8, 2007, that they are discussing a combination of their businesses which values Reuters at 8.87 billion pounds (euro13 billion; US$17.7 billion)....   (Associated Press)

Thomson, the Canadian publishing company, is poised to buy Reuters, the global news and information agency, the Globe and Mail reports. The timing of the takeover, which values Reuters at $17.7 billion, appears a response to Rupert Murdoch's proposed purchase of Dow Jones, but sources say they have been in talks with Reuters for months. 

Reuters stock has fallen by more and a half since 2000. The deal is complicated by the fact that no single shareholder is allowed to own more than 15 per cent of the company. A takeover would require the consent of 15 trustees charged with ensuring its "independence, impartiality, integrity and freedom from bias," the Globe and Mail reports. (More Reuters stories.)

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