Merger between The Thomson Corporation and Reuters Group PLC

Reference:	400/007/07
Notifying Parties:	The Thomson Corporation and Reuters Group PLC
Notification Date:	8 October 2007
Summary of transaction:	EXTRACTED FROM PART 5 OF FORM M1 FILED BY THE APPLICANT(S) 1.                  The Applicants The Thomson Corporation Reuters Group PLC 2.                  Description of the merger Thomson and Reuters, both being global providers of information products agreed to combine through a dual listed company structure pursuant to the Implementation Agreement dated 15 May 2007 entered into between Thomson, Reuters, The Woodbridge Company Limited and Thomson-Reuters Limited. Thomson and Reuters complement each other in terms of the nature of their respective businesses, and the geographical regions in which they operate. Further, the combination of Thomson and Reuters’ technological capabilities and resources will allow the combined enterprise to pursue innovative product development opportunities and benefit from the continuing shift towards electronic delivery of information to professional and financial customers, enhancing the quality and competitiveness of its product offering. The reportable markets include Fixed Income, Institutional Equities, Wealth Management, Investment Management, Investment Banking, and Corporates user segments. In these reportable markets, the combined shares of Thomson and Reuters are modest. Given the competitive constraints in the reportable markets, the merger is unlikely to bring about a substantial lessening of competition. In fact, the merger will allow the merger parties to reap efficiencies and bring about pro-competitive benefits to the markets. 3.                  Relevant good(s) or service(s) involved The relevant good/service involved is the provision of financial information products based on the individual needs of the different user group segments. The key components of financial information products include market data, real time information, decision support tools, historical and reference data and news and analysis.
Consultation:	Interested parties are invited to submit their views on the Application. When submitting confidential information, interested parties should take note of the procedures outlined in the CCS Guidelines on Merger Procedures.   Please write or email your comments (titled: Comments on Thomson-Reuters Merger) to:   Post/Courier:                Competition Commission of Singapore 5 Maxwell Road #13-01, Tower Block MND Complex Singapore 069110 Attention: Director (Mergers Unit)   Email:                           ccs_mergers@ccs.gov.sg
Supporting Documents:	Interested third party may request in writing to obtain more information on the transaction.   Please write or email your submission (titled: Request for more information on Thomson-Reuters Merger) to the above contact details.
Status:	23 May 2008 Click here for the decision