Categories: OLD Media Moves

Thomson acquisition of Reuters to close next month

Lisa LaMotta of Forbes.com writes that the Thomson Corp. acquisition of Reuters will close on April 17. Shareholders of both companies approved the deal on Wednesday.

LaMotta writes, “The integrated company, Thomson-Reuters will be the largest entity in the financial-data area with approximately 34.0% of the market share. Bloomberg, a privately-held information service, has 33.0% of the market with about 20 other firms splitting the rest of the market.

“The companies are hoping to offer customers a broader, more customer-centric experience. Yet, they have not given a timeline for the integration or details on how they plan to distribute the newly-combined resources.

“Thomson did not return calls in time for comment. Shares of the company were down 2.5%, or 90 cents, to $34.66 at the end of trading in New York. Reuters dropped .3%, or 22 cents, to $72.19.”