Thomson to complete Reuters takeover in second quarter

AFP, January, 2008

LONDON (AFP) — The takeover of British media giant Reuters by Canadian rival Thomson Corp will conclude in the second quarter of 2008, the pair said in a statement on Monday.

The deal is aimed at creating the biggest provider of financial data to trading rooms, leapfrogging current market leader and US rival Bloomberg.

Thomson Corporation agreed last year to buy Reuters for 8.7 billion pounds (12.8 billion euros, 17.2 billion dollars).

"Thomson and Reuters expect the transaction to close early in the second quarter of 2008," the pair said Monday.

"While the regulatory review process continues, integration planning efforts associated with the acquisition are proceeding on course."

Thomson and Reuters have also agreed that the US Department of...