Stock drops as Reuters deal closes
EmptyTORONTO -- Canadian digital media giant Thomson Corp. on Thursday completed the $15.9 billion takeover of the Reuters Group as Thomson Reuters shares slumped on their first day of postmerger trading.
Stock in the financial data giant fell 5.3% to CAN$35.50 ($35.15) on the Toronto Stock Exchange in early afternoon trading. Thomson Reuters shares also slid on the London and New York stock exchanges over fears for the merger's timing amid continuing market uncertainty.
The Toronto-based Thomson family will control Thomson Reuters with a 53% stake.