Major Reuters holder, ValueAct, says would support sale
NEW YORK, May 4 (Reuters) Hedge fund ValueAct Capital, which is Reuters Group Plc's second-largest stockholder, would support a sale of the London-based media company depending on the offer, a senior partner in the firm said on Friday.
Reuters disclosed Friday that it had received an approach from a possible buyer, sending its shares 25 percent higher in London and in the United States amid speculation that the bidder is Canadian media company Thomson Corp.
Jeffrey Ubben, ValueAct managing partner, said in an interview that it would be a ''fabulous combination'' for Reuters to merge with Thomson. But Ubben said his hedge fund believes Reuters will be an ''eight pound stock in a few years'' even without a sale.
ValueAct holds 83.5 million Reuters shares, just behind Schroder Investment Management, according to regulatory filings.
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