Thomson Reuters Moves to Blackstone Deal Offensive
TORONTO (Reuters) - Thomson Reuters said it was considering takeover opportunities after posting quarterly higher than expected earnings on Wednesday and has reaffirmed its ...
TORONTO (Reuters) - Thomson Reuters said it was considering takeover opportunities after posting quarterly higher than expected results on Wednesday and reaffirmed its forecast for 2018.The news and information agency agreed in January to sell a 55 percent stake in Financial & Risk, which provides data and news primarily to financial clients, to private equity firm Blackstone Group.Thomson Reuters expects to use $ 1 billion to $ 3 billion from the Blackstone deal to make acquisitions in the accounting and legal sectors."There is a pair that looks quite interesting to us and we will continue to evaluate them," Chief Executive Jim Smith said in an interview.Thomson Reuters said it expects to conclude the $ 20 billion deal with Blackstone in the fourth quarter and Smith said an analyst conference call would pave the way for expansion."Upon completion of the deal with Blackstone, Thomson Reuters will be in a position to play the offensive," he said.The company said, adjust...
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