Zimri Smith and Mark Herlihy of Bloomberg News report that busines news wire services Reuters Group Plc has been approached by an unidentified buyer, sending its stock up.
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Smith and Herlihy wrote, “Reuters has almost 17,000 employees and 196 news bureaus worldwide. Shares of the 156-year-old company had jumped 8 percent before the statement on speculation about an offer from Thomson Corp., the Canadian owner of the Westlaw legal database and TradeWeb financial services.
“‘Thomson is the most likely candidate as the businesses are a good fit,’ said Simon Wallis, an analyst at Collins Stewart in London. ‘Reuters will also be attractive to private equity, as there is the possibility to boost market share and cut costs.’
“Shares of Reuters climbed as much as 157.5 pence to 649.75 pence, and traded at 615 pence at 11:49 a.m. in London. Alex Brog, a spokesman for Thomson in London, declined to comment.”
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