Thomson to buy Reuters for $17.23 bn

    

Reuters and Thomson have agreed on terms of the merger. Thomson will buy Reuters for USD 17.23 billion.

 

The UK news agency had confirmed that it was in takeover talks with Canadian data company Thomson about a possible bid worth 8.8 billion pounds (USD 17.5 billion).

Earlier, Canada based Thomson had unveiled plans to acquire the wire agency in a USD 17.5 billion deal, the success of which hinged on whether the two sides could convince a body set up to safeguard Reuters' editorial independence.

 

The deal will create the world's biggest financial news and data group. The takeover has the support of the Reuters founders share company, which has the power to block a change of ownership.

 

But it still needs regulatory clearance and shareholder approval. Reuters Chief Executive Tom Glocer, who will head the combined Thomson-Reuters Group, declined to predict how long the process would take.