This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6656525.stm

The article has changed 9 times. There is an RSS feed of changes available.

Version 0 Version 1
Reuters agrees to Thomson buyout Reuters agrees to Thomson buyout
(10 minutes later)
UK news company Reuters has agreed to be bought out by Canadian financial data provider Thomson in a deal worth about £8.7bn ($17bn). News and information group Reuters has agreed to be bought out by Canadian financial data provider Thomson in a deal worth about £8.7bn ($17bn).
The tie-up will create the world's biggest financial news and data firm, allowing the new company to leapfrog its main rival, US-based Bloomberg.The tie-up will create the world's biggest financial news and data firm, allowing the new company to leapfrog its main rival, US-based Bloomberg.
Other news firms are also eying mergers as they look to cut costs, squeeze rivals and increase their client base. Other news firms are also eyeing deals as they seek to cut costs, squeeze rivals and increase their client base.
Reuters and Thomson reckon their deal will save them $500m (£250m) a year.Reuters and Thomson reckon their deal will save them $500m (£250m) a year.
Thomson has been expanding its non-data business, and Reuters will complement its news operations in the US and AFX in Europe, analysts said.Thomson has been expanding its non-data business, and Reuters will complement its news operations in the US and AFX in Europe, analysts said.
They added a merged Thomson and Reuters would be better able to compete against Bloomberg. They added a merged Thomson and Reuters would be in a stronger position to compete with Bloomberg.
The three companies are rivals in the "terminal" market, providing news and financial data on stocks, currencies and bonds to banks, traders and brokerages.The three companies are rivals in the "terminal" market, providing news and financial data on stocks, currencies and bonds to banks, traders and brokerages.
Industry figures released in April, estimated that Bloomberg had a 33% share of the terminal market, with Reuters controlling 23% and Thomson 11%.Industry figures released in April, estimated that Bloomberg had a 33% share of the terminal market, with Reuters controlling 23% and Thomson 11%.
Following the merger, the new company will be called Thomson-Reuters and will be listed on stock exchanges in London and Toronto.Following the merger, the new company will be called Thomson-Reuters and will be listed on stock exchanges in London and Toronto.
Reuters boss Tom Glocer will head the newly enlarged firm.Reuters boss Tom Glocer will head the newly enlarged firm.