Thomson completes Reuters acquisition; forms Thomson Reuters

17 April 2008

Mumbai: Financial data provider The Thomson Corporation has completed its $17.2 billion cash-and-stock deal to acquire Reuters Group PLC, creating the world's largest news and data services company, Thomson Reuters.

Shares of the combined entity today began trading on the Toronto, New York and London exchanges, a year after the two companies struck the deal, a company statement said.

On 1 May  2008, Thomson Reuters plans to announce results for the first quarter as well as a financial outlook for the remainder of 2008.

"We are witnessing the maturation of the information economy and content from Thomson Reuters will be its currency," Thomson Reuters' CEO Thomas H Glocer said.

"Thomson Reuters will benefit from the value created by more diversified revenue streams, a larger capital base and synergies resulting from the acquisition. Our leadership position and global footprint will give us opportunities to grow faster than either Thomson or Reuters could have on its own,", added Glocer, who was previously Reuters' CEO.

Thomson Reuters also unveiled a new branding and global advertising campaign and said it might repurchase up to $500 million worth of shares over the course of the year.