Reuters, Thomson Seal the Deal

By Sam Gale Rosen,  Newser Staff
Posted May 15, 2007 8:25 AM CDT
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)
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(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.