Posted by: buggy | 16 May, 2007

Thomson poised to takeover Reuters

My company has (almost) been taken over.

I have to say I’m pretty excited. This is the first time something like this has happened to me in my career.

Do I feel worried? Well… a tad. But it’s not the “lose sleep for days on end” sort of worry. More like anticipation tempered with the realisation that anything can, and likely, will happen. There’s a certain freedom and care-free gaiety at knowing that things are NOT within my control. Just enjoy the ride. 🙂

Here’s the BBC report on the takeover.

Reuters agrees to Thomson buyout

News and information group Reuters has agreed to be bought out by Canadian financial data provider Thomson in a deal worth about £8.7bn ($17bn).

The tie-up will create the world’s biggest financial news and data firm, allowing the new company to leapfrog its main rival, US-based Bloomberg.

Other news firms are also eyeing deals as they seek to cut costs, squeeze rivals and increase their client base.

Reuters and Thomson reckon their deal will save them $500m (£250m) a year.

Broader reach

Thomson, whose publishing interests include law, tax and scientific research, has been expanding its non-data business.

Reuters will complement its news operations in the US and AFX in Europe, analysts said.

They added that a merged Thomson and Reuters would be in a stronger position to compete with Bloomberg.

Full Article Here

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