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Mar 27, 2008

Thomson-Reuters deal almost official

Thomson Corporation and Reuters Group will officially join forces on April 17 as long as courts in Canada and the United Kingdom approve the $17 billion sale, according to Forbes.
The report said shareholders gathered in both Toronto and London on Wednesday, approving the acquisition with "overwhelming" enthusiasm.
The Thomson Corporation, a Canadian financial data services firm based in Stamford, Conn., and Reuters Group, a London-based news wire service, got approval from the U.S. Department of Justice, the European Commission and the Canadian Competition Bureau in mid-February on the condition that Thomson and Reuters sell copies of some financial data bases.
"If they get it right, it's going to mean a much more robust platform for the customers," said BMO Capital Markets analyst Tim Casey, "but that's much further down the road."
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