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Reuters, Thomson Seal the Deal

Posted May 15, 07 8:25 AM CDT in Business 

(Newser) – Reuters and Thomson have settled on the terms of the $17.24 billion merger announced last week, sounding the starting bell for a longer-than-usual regulatory review, the Journal reports. Reuters head Tom Glocer will become CEO of the new Thomson-Reuters, which combines the second- and third-largest providers of financial data and raises antitrust concerns.

Some subscribers welcome a strong challenge to Bloomberg, but the size and complexity of the merger and the fact that so few companies dominate the market means the review may take as long as a year. Glocer said he doesn't foresee any forced divestment by the new company, which will be listed in the US and the UK.

Source Wall Street Journal

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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...   (Associated Press)
In a file photo Reuters' Tom Glocer, poses for a portrait in front of London's St. Paul's Cathedral shortly after he was named as the next chief executive of news and information group December 6, 2000....   (Associated Press)
This undated handout provided by Reuters Group PLC shows Reuters Chief Executive Officer Tom Glocer. Reuters Group PLC and Thomson Corp. confirmed in a statement Tuesday May 8, 2007, that they are discussing...   (Associated Press)
This undated handout image received 04 May 2007 shows the Thomson...   (Getty Images)
This undated handout image received 04 May 2007 courtesy of Thomson...   (Getty Images)
Dow Jones And Reuters Consider Selling Themselves   (Getty Images (by Event))
Media Companies Draw Takeover Interest   (Getty Images)
This undated handout photo provided by Thomson Corp. shows Thomson Corp. President and CEO Richard J. Harrington. Reuters Group PLC and Thomson Corp. confirmed in a statement Tuesday May 8, 2007, that...   (Associated Press)
Thomson Corp. Board Chairman David Thomson reviews his notes before the company's annual general meeting in Toronto in this May 2, 2007 file photo. Reuters Group PLC said Friday, May 4, 2007 that it...   (Associated Press)
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business  • merger  • finance  • Reuters  • Thomson  • Tom Glocer  • Thomson Reuters


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