Financial data giants Reuters and Thomson have confirmed that a merger is in the works. Should the deal go through, the company will control 34 percent of the financial data market, to current leader Bloomberg's 33 percent. Reuters CEO Tom Glocer would head the new Thomson-Reuters, which would remain under the Thomson family's control.
A merger has long been rumored, but Glocer's initial vision of the deal had Thomson as the takeover target, the Financial Times reports. Though Thomson's recent sale of its textbook division made a Reuters bid more attractive, the company seems to be living up to its detached reputation by handing Glocer, not a Thomson honcho, the top job.