Thomson agrees to buy Reuters for $17.23 billion

London, May 15: Canadian publisher Thomson Corp. has agreed to buy Reuters for about 8.7 billion pounds (.23 billion) to create the world's biggest financial news and data group, the companies said on Tuesday.

The deal has the support of the Reuters Founders Share Company, which could have blocked a takeover if it thought Reuters editorial independence was at risk, but still needs regulatory clearance, they said.

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