Thomson shareholders OK Reuters buy

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TORONTO -- Shareholders of Canadian electronic publisher Thomson Corp. on Wednesday voted overwhelmingly to approve the $17 billion takeover of London-based Reuters Group Plc.

The transaction, which creates Thomson Reuters, will create the largest provider of news and data for the global financial community.

Thomson stockholders in Toronto voted 99% in favor of the takeover deal.

Toronto's Thomson family, which controls the electronic media giant through the investment vehicle Woodbridge Co. and its 70% stake in Thomson, earlier gave their support to the takeover.

Reuters shareholders will vote separately on the transaction Wednesday. As in Toronto, they are expected to approve the deal.

Woodbridge, which also holds stakes in national TV network CTV and the Globe and Mail national newspaper, will emerge with a 53% stake in Thomson Reuters after the transaction closes as scheduled April 17.
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