Article

Legal Publisher’s Offer a ‘Knockout’

  •  
  •  
  •  
  • Print

Analysts say Thomson Corp.’s offer to purchase Reuters Group PLC is a “knockout.”

The offer made public today values Reuters at $17.7 billion, according to the Associated Press. Thomson would pay $7.03 in cash and 0.16 in its shares for each Reuters share.

AP quoted analysts who said Thomson’s offer is likely to be higher than that of any other suitor.

Thomson is a legal and business publisher that owns Westlaw. The two media companies say their combination “would create a global leader in the business-to-business information markets.”

The Wall Street Journal (sub. req.) reports that Reuters CEO Tom Glocer will be the new CEO of the combined companies. Glocer is a former mergers and acquisition lawyer at Davis Polk & Wardwell in New York.

Give us feedback, share a story tip or update, or report an error.