Thomson Aims to Buy Reuters

By Peter Fearon,  Newser Staff
Posted May 9, 2007 8:00 AM CDT
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...   (Associated Press)

(Newser) – 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.