Thompson, Reuters expect to receive deal approval in March

Thomson Corp. expects to receive regulatory clearance to purchase Reuters Group PLC for $17 billion in the 2Q of 2008.

Photo: Thompson, Reuters expect to receive deal approval in March

In December they said that the deal was to be completed in the first quarter.

The European Commission is to give its decision on the purchase by March, 10. The U.S. Department of Justice promised to give its answer on the date the European Commission does.

Reuters Group is is a financial market data provider and news service that provides reports from around the world to newspapers and broadcasters. However, news reporting accounts for less than 10% of the company's income.

 Its main focus is on supplying the financial markets with information and trading products. These include market data, such as share prices and currency rates, research and analytics, as well as trading systems that allow dealers to buy and sell such things as currencies and shares on a computer screen instead of by telephone or on a trading floor like that of the New York Stock Exchange.

Among other services, the most notable is analysis of 40,000 companies, debt instruments, and 3 million economic series. Competitors include Bloomberg L.P. and Dow Jones Newswires.