TORONTO, Dec. 12,
2022 /PRNewswire/ -- Thomson Reuters (TSX/NYSE: TRI)
today announced that it and certain investment funds affiliated
with Blackstone have agreed to sell shares in London Stock Exchange
Group plc ("LSEG") that they co-own to Microsoft. Thomson Reuters
plans to use the approximately $1B of
gross proceeds from the transaction to pursue organic and inorganic
opportunities in key growth segments and provide returns to
shareholders. Closing of the transaction is subject to customary
antitrust and regulatory approvals and is expected to complete in
the first quarter of 2023.
In connection with the transaction, LSEG has agreed to amend the
terms of contractual lock-up provisions previously agreed between
LSEG and the Blackstone/Thomson Reuters entities that hold the LSEG
shares. As a result of the amendment, the number of LSEG shares
that the Blackstone/Thomson Reuters entities will be able to sell,
in aggregate, between January 30,
2023 and January 29, 2024 will
be unchanged and the number of LSEG shares that the
Blackstone/Thomson Reuters entities will be able to sell between
January 30, 2024 and January 29, 2025 will be reduced by half of the
number of shares sold to Microsoft. The contractual lock-up
provisions cease to apply after January 29,
2025.
Thomson Reuters
Thomson Reuters is a leading provider
of business information services. Our products include highly
specialized information-enabled software and tools for legal, tax,
accounting and compliance professionals combined with the world's
most global news service – Reuters. For more information on Thomson
Reuters, visit tr.com and for the latest world news,
reuters.com.
SPECIAL NOTE REGARDING
FORWARD-LOOKING STATEMENTS
Certain statements in this news release are forward looking,
including the company's current expectations regarding the timing
for closing of the transaction and its uses of proceeds. These
forward-looking statements are based on certain assumptions and
reflect our company's current expectations. As a result,
forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results or events to differ
materially from current expectations, including the parties'
ability to receive regulatory approvals and satisfy conditions to
closing as well as other factors discussed in materials that
Thomson Reuters from time to time files with, or furnishes to, the
Canadian securities regulatory authorities and the U.S. Securities
and Exchange Commission. There is no assurance that a transaction
involving the shares of London Stock Exchange Group plc will be
completed or that other events described in any forward-looking
statement will materialize. Except as may be required by applicable
law, Thomson Reuters disclaims any obligation to update or revise
any forward-looking statements.
This news release does not constitute an offer to purchase,
or a solicitation of an offer to sell, securities of the company,
nor is it a substitute for any issuer bid, tender offer or other
documents that may be filed by the company with the Canadian
securities regulatory authorities or the U.S. Securities and
Exchange Commission.
CONTACTS
MEDIA
Andrew Green
Senior Director,
Corporate Affairs
+1 332 219
1511
andrew.green@tr.com
|
INVESTORS
Gary Bisbee,
CFA
Head of Investor
Relations
+1 646 540
3249
gary.bisbee@tr.com
|
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SOURCE Thomson Reuters