LONDON: Details emerged Wednesday of the proposed merger between the globe's second and third largest providers of financial news and information - Thomson Corporation (a Canadian company headquartered in Connecticut USA) and London-based Reuters.
If the £8.87 billion ($17.65bn; €13.05bn) deal reaches fruition, the merged entity will overtake Bloomberg as world numero uno in the sector.
The offer currently on the table will see Thomson paying a mixture of cash and shares for Reuters, while the combined business - named Thomson-Reuters - will be listed both on the London and Toronto stock markets.
It will be headed by Tom Glocer, Reuters' ceo and reportedly the deal's progenitor. Thomson president Richard Harrington will retire on completion.
Data sourced from MediaGuardian.co.uk; additional content by WARC staff