Reuters Group Plc (LON: RTR) has been approached by Thomson Corp. (TSE: TOC) for a possible takeover deal worth $15 billion, according to published reports on Friday.
Reuters, the British news and financial data provider, confirmed today that it had been approached by an unidentified third party in a released statement, saying that the outcome may or may not be a formal bid.
Executives with Reuters and Canada's Thomson met this week to discuss the possible acquisition, termed a 'friendly' approach by unidentified sources, reported the Financial Times on Friday.
The news drove Reuters shares up 25 percent, to close at 615 pence ($12.24) in Friday trading on the London Stock Exchange. The companyâ€™s market capitalization now stands at approximately 7.74 billion pounds ($15.4 billion).
Reuters competes with Thomson and privately held Bloomberg LP for providing financial data to clients such as market analysts and institutional investors.
The acquisition talk comes on the heels of another major media acquisition approach by News Corp. (NYSE: NWS), which offered $5 billion this week for Dow Jones & Co. Inc. (NYSE:DJ), the owner of The Wall Street Journal.