Tuesday, May 08, 2007

Thomson to Buy Reuters?

Reuters reports today that the Thomson Corporation is "in talks to buy Reuters Group" for approximately $17.6 billion--a staggering sum of money. If the deal goes through, it would "create the world's biggest financial news and data company." Thomson's President and CEO Richard Harrington would retire once the deal was complete, and Reuters CEO Tom Glocer would become CEO of the combined company. The deal would enhance the financial side of Thomson's business while allowing it to "tap into booming global markets." Commentators expect the sale to face tough scrutiny by regulators in the United States and Europe. There is no word yet on what the deal might mean for Thomson's legal publishing group.

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