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UK
slides two places in global e-readiness rankings
Computing, May 3
A country’s e-readiness is the ability of consumers, business and
government to exploit technology, and the rankings are an index of its ability to compete
in the global economy.
The UK is still in the global top 10, so the situation is not all doom
and gloom. Our social and cultural environment is well-adapted to the digital world, says
the EIU, and our business environment is one of the best in Europe – comparable even
with those of our new Asian arch-rivals, Hong Kong and Singapore.
Dow
Jones directors sidestep $5bn bid by News Corp
Times, May 3
The board of Dow Jones sidestepped a $5 billion (£2.51 billion)
unsolicited bid from News Corporation, parent company of The Times, after the
directors effectively sided with Dow Jones’s controlling Bancroft family, who had
openly opposed the deal. The decision came despite pressure from Wall Street to consider
the proposal seriously.
Thomson
in Reuters vow
Sunday Times, May 6
Cananda’s Thomson Corporation plans to cement a
£7.6 billion takeover of rival Reuters by promising to respect and preserve the
principles of the Reuters Trust, the body set up to ensure the independence and integrity
of the British company’s news-gathering operations. A merger between Thomson and
Reuters would create a financial-information power-house. The group would share a duopoly
with Bloomberg, the market-information service set up by Michael Bloomberg, now mayor of
New York.
Legal impediments are the focus as Thomson Corporation
tries to land the £8.5 billion takeover of Reuters. Obstacle No 1 is the first of the
Reuters Trust principles, which states unambiguously that the company “shall at no
time pass into the hands of any one interest, group or faction”.
Tom Glocer, the chief executive of Reuters, is to receive a £27 million
windfall after the media group’s £8.7 billion takeover by its rival Thomson, it
emerged yesterday.
Mr Glocer, who is to become head of Thomson-Reuters, a global media
giant worth $35 billion (£17.6 billion), once the acquisition is completed, is entitled
to a discretionary share option worth £25 million and a further £2 million from a
long-term incentive programme under his new contract.
Fund’s £412m Reuters profit
Sunday Times, May 20
The biggest investor in Reuters, Value Act Capital, has
made a £412m paper fortune in the three weeks since the financial-information group
received its £8.7 billion bid from Thomson Corporation
Thomson and Reuters
Confirm Their Deal
Information Today, May 21
For the last several weeks, there have been rumors of
a suitor pursuing Reuters (www.reuters.com),
with The Thomson Corp. (www.thomson.com)
mentioned as the most likely. Now, the companies have confirmed that The Thomson Corp. has
wooed and won Reuters Group, PLC with a $17.2 billion takeover bid.
Thomson Learning and
Gale Under New Management after Sale
Information Today, May 21
Acquiring Reuters will cost The Thomson Corp. a pretty penny. Some of
those funds will come from a $7.76 billion cash sale of the Thomson Learning division (www.thomson.com/solutions/learning)
to Apax Partners (www.apax.com)
and OMERS Capital Partners. (www.omerscapital.com).The $7.75 billion sale amounts to 3.2
times the company’s 2006 revenue of $2.4 billion with a profit of $383 million.
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