Reuters, Thomson expect deal to close in Q2

(Reuters) - News and information groups Reuters Group Plc (RTR.L: Quote, Profile, Research) and Thomson Corp (TOC.TO: Quote, Profile, Research) said they expect Thomson's proposed acquisition of the British group to close early in the second quarter of 2008.

The pair said the U.S. Department of Justice, which had been expected to give its decision on the 8.2 billion pound ($16.1 billion) deal by Tuesday, would now give its ruling around the same time as the European Commission's.

The Commission is set to give its ruling by March 10, and it could then take four to six weeks to secure shareholder approval.

"Thomson and Reuters have had productive discussions with the (United States) Department of Justice and the European Commission," the companies said, adding that they "have a high degree of confidence that the acquisition will receive clearance on an expedited timetable".

 

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