Shareholders Approve Thomson Reuters Merger

The $17 billion takeover of Reuters Group PLC by electronic publisher Thomson Corp. has been approved overwhelmingly by shareholders of both companies, which together will form one of the world's largest information operations.

David Thomson, chair of Thomson Corp. and grandson of founder RoyThomson, told a shareholders meeting in Toronto yesterday that this "isa remarkable beginning for both corporations."

He was commentingafter about 99 per cent of Thomson shareholders voted to approve thedeal. It's the biggest in the history of the Canadian-based company,which began in northern Ontario during the Depression as a radio andnewspaper business.

Reuters, which began in the mid-1800s as anews agency, also announced that its shareholders had approved thetransaction by 92.6 per cent at an meeting held in London yesterday.

The new company will be called Thomson Reuters Corp. and will control more than one-third of the world market for financial data, in competition with Bloomberg LP.