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Legal Publisher’s Offer a ‘Knockout’

Posted May 8, 2007 8:47 AM CDT
By Debra Cassens Weiss

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Analysts say Thomson Corp.’s offer to purchase Reuters Group PLC is a “knockout.”

The offer made public today values Reuters at $17.7 billion, according to the Associated Press. Thomson would pay $7.03 in cash and 0.16 in its shares for each Reuters share.

AP quoted analysts who said Thomson's offer is likely to be higher than that of any other suitor.

Thomson is a legal and business publisher that owns Westlaw. The two media companies say their combination “would create a global leader in the business-to-business information markets.''

The Wall Street Journal (sub. req.) reports that Reuters CEO Tom Glocer will be the new CEO of the combined companies. Glocer is a former mergers and acquisition lawyer at Davis Polk & Wardwell in New York.

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