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.