Reuters backs Thomson takeover bid
Posted by Jean Yves Chainon on May 15, 2007 at 10:51 AM
Reuters Group has recommended the $17.2 billion takeover bid from Thomson. While the deal has yet to be cleared by regulators, it could produce a significant financial news competitor to Bloomberg L.P.
Thomson’s bid values Reuters at $17.2 billion. The two companies expect to save more than $500 million a year by their third year together.
The Reuters Founders Share Co., which had power of veto had the deal been considered detrimental to Reuters’ journalism integrity, approved of the bid.
Some staffers voiced concern upon learning that the Thomson family will hold 53% of the merged company. Individual Reuters share ownership is currently limited to 15%.
The question is now whether antitrust regulators, on both sides of the Atlantic, will clear the deal.
Source : MarketWatch
The Reuters Founders Share Co., which had power of veto had the deal been considered detrimental to Reuters’ journalism integrity, approved of the bid.
Some staffers voiced concern upon learning that the Thomson family will hold 53% of the merged company. Individual Reuters share ownership is currently limited to 15%.
The question is now whether antitrust regulators, on both sides of the Atlantic, will clear the deal.
Source : MarketWatch
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yes now a days media play the important role in every field and due to it liberty it become very femouse so you are totally right about it ....
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