Thomson, a Canadian publisher is set to buy one of the world’s leading news company, Reuters for a whooping $17 billion dollar deal to create the world’s biggest financial news company. Although there are still some clearances that need to be ironed out with regards to legal and other corporate matters, Reuters CEO Tom Glocer believes that the company would not have to go through divestitures.
In a CNN Money report, Glocer said:
“We’re creating a new force in a world of multiple information sources,”
Indeed, with Reuters’ strength in real time financial data and Thomson’s solid historical information backbone, the merger of the two companies would definitely create a great impact on the way financial information news are analyzed and delivered on worldwide scale.
The combined Reuters and Thomson’s assets and resources would eat up 34% of the financial information market, gaining the company one notch ahead of Bloomberg, a widely popular and highly respected financial information content provider. The merger is expected to earn the two companies more than $500 million annual savings.
This deal is certainly something to look forward to by financial analysts, market researchers and corporate individuals hungry for high-valued financial information online.