The Thomson Corporation and Reuters has announced that they have agreed with the U.S. Department of Justice (DOJ) to align more closely its regulatory review timetable for Thomson’s proposed acquisition of Reuters with that of the European Commission (EC). The DOJ and EC have been working cooperatively with one another in their reviews. As a result, the DOJ is now expected to render a decision on or about the date on which the EC makes its decision.
Thomson and Reuters have had productive discussions with the DOJ and EC. Given the highly complementary nature of their businesses, the two companies have a high degree of confidence that the acquisition will receive clearance on an expedited timetable.
Thomson and Reuters expect the transaction to close early in the second quarter of 2008. While the regulatory review process continues, integration planning efforts associated with the acquisition are proceeding on course.
The Thomson Corporation is a global leader in providing essential electronic workflow solutions to business and professional customers. With operational headquarters in Stamford, Conn., Thomson provides value-added information, software tools and applications to professionals in the fields of law, tax, accounting, financial services, scientific research and healthcare. The Corporation’s common shares are listed on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).
Reuters , the global information company, provides indispensable information tailored for professionals in the financial services, media and corporate markets. Through reuters.com and other digital properties, Reuters now also supplies its trusted content direct to individuals. Reuters drives decision making across the globe based on a reputation for speed, accuracy and independence. Reuters has 17,500 staff in 94 countries, including 2,400 editorial staff in 196 bureaux serving 131 countries. In 2006, Reuters revenues were £2.6 billion.
The directors of Thomson and Reuters accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the directors of Thomson and Reuters (who have taken all reasonable care to ensure such is the case), the information contained herein for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.