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Thomson to Take Over Reuters

The New York Times reports that Reuters agreed today to a "$17.2 billion takeover by Thomson that would vault the combined entity ahead of Bloomberg to become the world's largest financial data and news provider."

''The companies will be separate legal entities but will be managed and operated as if they were a single economic enterprise,'' the announcement said. ''The boards of the two companies will be identical and the combined business will be managed by a single senior executive management team.''

The combined Thomson Financial unit and Reuters financial and media businesses will be called Reuters.

Thomson's professional businesses -- legal, tax and accounting, scientific and healthcare -- will be branded as Thomson-Reuters Professional.

Thanks to my colleague, Eric Taylor, for the tip.