Enter multiple symbols separated by commas

Thomson Confirms It Approached Reuters About Potential Deal

Electronic publisher Thomsonconfirmed on Monday that it has approached Reuters Groupregarding a potential takeover of the financial data and news company.

Thomson said in a brief statement that it had made a "preliminary" approach to Reuters' board of directors that "may or may not lead to an offer being made for Reuters."

The company added a further announcement would come "in due course" and did not give any indication regarding the value of any potential offer. A spokesman had no further comment.

Reuters shares soared as much as 32% on Friday after reports that Thomson was in talks regarding a bid for London-based Reuters.

Thomson provides software, information and other applications for professionals in law, finance, health care and science. The company is selling its education division, which analysts estimate could fetch more than $5 billion.

The proceeds from the sale of the education unit, called Thomson Learning, could be used to help finance a purchase of Reuters.

Thomson Chief Executive Richard Harrington has said the proceeds would be spent on acquisitions and "tactical investments."

Harrington himself is no stranger to dealmaking: Thomson announced at least 35 asset purchases or sales since he started at the company's helm in October 1997.

Thomson is controlled by its founding billionaire Thomson family, which owns 70% of its shares. The company is based in Toronto, but runs its business out of Stamford, Connecticut.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Hero miles for military members: Real estate magnate's plea

    Chairman of the Fisher House Foundation, Ken Fisher, discusses the Hero Miles program with CNBC's Dina Gusovsky. During Military Appreciation Month, Fisher is asking every traveler to donate 1,000 of their miles to replenish the Hero Miles programs that is in danger of running out.

  • Cramer shuts down this market's haters

    "Mad Money" host Jim Cramer on why this market can't stop, won't stop.

  • From the battlefield to the boardroom

    Your Grateful Nation is dedicated to helping Special Forces veterans enter the corporate world and Knot Standard provides complimentary suits to vets. Mad Money's Jim Cramer spoke with Rob Clapper, Your Grateful executive director; John Ballay, Knot Standard co-founder and president; Tej Gill, retired U.S. Navy Seal; and Darren McB, active duty U.S. Navy Seal.