Thomson set to close deal for Reuters in April

AFP, February, 2008

WASHINGTON (AFP) — Thomson Corporation said Tuesday it expected to close the takeover of British media group Reuters during the week of April 13 after regulatory approval in the US, Canada and European Union.

The Justice Department said it would require Thomson to sell financial data and related assets in three markets for financial data in order to proceed with Thomson's proposed 17-billion-dollar acquisition of Reuters Group PLC.

The conditional approval taking into account antitrust concerns paves the way for the creation of the world's biggest financial information group.

The US condition for the sale to proceed was similar to that announced Tuesday by the European Commission.

According to the Justice Department, Thomson must sell within 60 days,...