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Thomson confirms bid for Reuters

Canada's electronic publisher Thomson Corp. confirmed on Monday that it has initiated talks with Reuters Group Plc for potential take-over of the British news service.

Toronto-based Thomson Corp. said in a brief statement that it had made a „preliminary” approach to Reuters' Board of Directors that „may or may not lead to an offer being made for Reuters Group Plc.” It said it would give out details of the bid „in due course,” without mentioning the value of a potential offer.

Thomson provides software, information and other applications for professionals in law, finance, health care and science. It competes with Reuters and Bloomberg LP in providing financial data to corporate clients such as investment banks. An acquisition of Reuters would put the company in a position to surpass Bloomberg. (