Restructuring & Reorganization
Selected Transactions
 
Rueters Header
Date
Completed April 2008

Company Description
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. Powered by a world leading news organization, it combines industry expertise with innovative technology to deliver critical information to decision makers in the financial, legal, tax and accounting, scientific, healthcare and media markets.  The company was formed through the cross-border merger of Reuters Group plc with the Thomson Corporation.

Situation Overview
Blackstone advised the Board of Reuters Group plc on its merger with Thomson Corporation, and recommended the use of a dual-listed company (DLC) structure for the combined company’s shares on the London and Toronto stock exchanges.  Total transaction value of £10 billion.

Transaction Summary
The deal brought together two information organizations with complementary strengths in different sectors and geographies, and generated anticipated run rate synergies in excess of $500m. By structuring the merger in a DLC that maintained the primary listings of both companies, the combined company kept its FTSE 100 eligibility and averted potential “flow-back” from Reuters shareholders post-merger. This enabled Reuters’ UK shareholder base to participate in the benefits of a combination at the time of merger.

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