Thomson Gets Antitrust Approval for Reuters Purchase
Posted Feb 21, 2008 10:07 AM CDT
By Debra Cassens Weiss
The U.S. Justice Department and antitrust regulators in Europe have approved legal publisher Thomson Corp.’s $17 billion acquisition of Reuters, provided that the company sells certain financial databases.
The combination will create the world's leading financial information company, eclipsing competitor Bloomberg, The Deal reports.
The U.S. Justice Department said in a press release that the company will be required to sell financial data and related assets in three markets for financial data to preserve competition and prevent higher prices. Thomson is the owner of the legal research database Westlaw.
Thomson and Reuters agreed that they will sell their financial databases to resolve antitrust concerns, Reuters reports. They are: Thomson's Worldscope, Reuters Estimates, Reuters Aftermarket Research and Reuters EcoWin.
The requirement, part of a proposed settlement of a civil lawsuit filed by the department, are consistent with those obtained in an antitrust investigation by the European Commission.