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Thomson, Reuters combine in $17 billion deal to form Thomson Reuters
By Lisa Kerner
Charlotte, N.C., April 17 - Thomson Corp. completed its $17 billion acquisition of Reuters Group plc, to form Thomson Reuters.
The new company began trading on the Toronto Stock Exchange (TRI), the London Stock Exchange (TRIL), the New York Stock Exchange (TRI) and Nasdaq (TRIN) on Thursday, according to a Thomson Reuters news release.
"Thomson Reuters will benefit from the value created by more diversified revenue streams, a larger capital base and synergies resulting from the acquisition," Thomson Reuters chief executive officer Thomas H. Glocer said in the release.
"Our leadership position and global footprint will give us opportunities to grow faster than either Thomson or Reuters could have on its own," Glocer added.
Thomson Reuters also announced it may repurchase up to $500 million of its shares over the course of the year.
"Our plans to buy back Thomson Reuters shares underscores our financial strength and focus on shareholder value," Glocer said.
As previously reported, as part of the merger Thomson agreed to sell a copy of the Thomson Fundamentals (Worldscope) database and Reuters agreed to sell a copy of the Reuters Estimates, Reuters Aftermarket Research and Reuters Economics (EcoWin) databases in order to preserve competition.
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.
Thomson Reuters said it established its headquarters in New York and has major operations in London and Eagan, Minn.
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