| |
Thomson Reuters Corphas disclosed that it will be acquiring Breakingviews, so that it can increase its hold in the business news community.
Thomson Reuters has mentioned that the board of the Breakingviews have urged its shareholders to accept the offer. It also mentioned that the transaction will be getting over in just 8 weeks.
Aspects regarding the monetary terms have not been disclosed, but there are reports that the transaction, a major part of which will be in cash, is about $18 million worth.
Acquiring Breakingviews will enable Reuters News to leave a stronger imprint in the world of business and financial news.
The other major players of business and financial news include Lex, Financial Times newspaper as well as Wall Street Journal’s Heard on the Street.
Breakingviews Chairman Hugo Dixon will run the commentary service, which will operate separately from Reuters' news reporting.
This decision by Thomson Reuters comes a day after Bloomberg mentioned that it will be acquiring Business Week magazine.
