Family-controlled Thomson Reuters has sold its Intellectual Property & Science business to Onex, a Canadian buyout group, and Baring Private Equity Asia for $3.55 billion in an all-cash deal.
A
Financial Times
report said
Thomson Reuters is “narrowing its focus to its core financial business.”
Thomson Reuters plans to use about $1 billion of the proceeds to repurchase shares as part of a $1.5 billion buyback program, the article said. The rest is expected to go toward paying down debt and reinvesting in the business, the
FT
article said. (Source:
Financial Times
, July 12, 2016.)
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