Reuters in the Grip of Takeover Frenzy

Evening Standard - London › May 05, 2007

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Summary

NEWS and financial data giant Reuters was at the heart of a share trading frenzy today after a takeover approach thought to have come from Canadian rival Thomson.

They soared 25% to value the FTSE 100 company at Pounds 7.7 billion after it said it received a preliminary approach which could lead to an offer.

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Extract

Reuters in the Grip of Takeover Frenzy

Reuters told the stock market about the approach after speculation swept the City that Rupert Murdochs News Corporation or Thomson Corporation had tabled a 600p-a-share bid.

Any takeover would bank chief executive Tom Glocer tens of millions of pounds from shares and options.

Earli...

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