Thomson, Reuters extend European regulatory review

By Lisa Kerner

Charlotte, N.C., Oct. 30 - The Thomson Corp. and Reuters Group plc requested a 10-working-day extension of the European Commission's ongoing regulatory phase 2 review of Thomson's proposed acquisition of Reuters.

The voluntary extension gives the commission and third parties additional time to assimilate the information provided by the two companies, according to a news release.

Thomson and Reuters expect the review to be completed in the first quarter of 2008. The companies announced the beginning of the commission's phase 2 review on Oct. 8.

It was previously reported that in the United States, Thomson and Reuters signed a timing agreement under which the Department of Justice will provide a decision on the acquisition by Jan. 15. The transaction is not subject to the requirements of the U.S. Hart-Scott-Rodino Antitrust Improvements Act.

Thomson agreed on May 15 to acquire Reuters for about £8.7 billion, or $17.2 billion.

Stamford, Conn.-based Thomson provides information services in five segments: legal, tax and accounting, financial, scientific and health care.

Reuters is based in London and provides content and transaction services for the financial services marketplace.

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