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Thomson. Reuters. Thomson-Reuters.

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The Thomson acquisition of Reuters was officially announced today. The transaction is valued at $17.2bn, with Reuters’ shareholders getting 691 pence in cash and stock per share, or a 40% premium on the share price since rumors of the deal floated two weeks ago.
The deal still faces regulatory approval from US and European agencies (one analyst put the odds of the deal going through at 75%, which is still quite risky), which caused Reuters shares to trade slightly below the $17.2bn mark.
The new company will be called (shockingly!) Thomson-Reuters, and Woodbridge (a Thomson family investment vehicle) will own 53% of the new entity, with Thomson shareholders owning 23% and Reuters shareholders owning 24%.
Tom Glocer, Reuters CEO, will become CEO of Thomson-Reuters, a reward for overseeing the stock price of Reuters drop 40% since he took over (but several PR teams insist the slide was already happening). To his credit, Glocer has given Reuters catchy restructuring plan names like “Fast Forward” followed by “Core Plus” and capitulated by “Save Yourself.”
Glocer is a 47 year old American from NYC (a Mets fan) and the first Reuters CEO to not originally come from the newsroom. Glocer is hip to the internets and has a blog (check it out here and join the community of 12 other desperate individuals doing the same, according to the last very official count).
Thomson-Reuters plans to control 34% of the financial data market according to Market Data Reference, which trumps Bloomberg’s market share of 33% by an almost contrived amount.
Thomson and Reuters agree to become…Thomson-Reuters! [FT Alphaville]
Reuters CEO returns to M&A with Thomson deal [Reuters]


2018 Thomson Reuters AML Insights Report Image

2018 Thomson Reuters Anti-Money Laundering Insights Report

Thomson Reuters partnered with ACAMS to conduct a survey of 253 anti-money laundering compliance leaders related to processes and activities used in response to “know your customer” requirements. The responses showed the impact the CDD Rule has had – and will continue to have – on the operations and practices of financial institutions.