trending Market Intelligence /marketintelligence/en/news-insights/trending/nuhwi76et-nsyyhmjf-9ra2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Report: Thomson Reuters chairman sought higher bid in Blackstone deal

Blog

Latin American and Caribbean Market Considerations Blog Series: Focus on LGD

BLOG

Banking Essentials Newsletter: June Edition

Case Study

กรณีศึกษา A Bank Takes its Project Finance Assessments to a New Level

Blog

Fintech Intelligence Digital Newsletter: May 2021


Report: Thomson Reuters chairman sought higher bid in Blackstone deal

Thomson Reuters Corp.'s decision to sell its financial and risk business to Blackstone Group LP did not initially go down well with the chairman of its board, David Thomson, The Wall Street Journal reported, citing people familiar with the deal.

According to the report, Thomson believes the company should have asked for a higher price or looked for other potential buyers. He reportedly initially raised concerns in November 2017, when the board was reviewing Blackstone's offer.

Thomson Reuters CEO Jim Smith was the strongest and most vocal advocate of the deal as he believed that the deal will strengthen the company's core assets. Smith was supported by Woodbridge Co. CEO David Binet and Ed Clark, the two directors on the Thomson Reuters board.

Woodbridge is a Toronto-based holding firm through which David Thomson and other members of the family own their 63% stake in Thomson Reuters.