Thomson Reuters to return $2.2 billion to investors from sale of LSEG shares
Wednesday 5 April 2023
Reuters owner Thomson Reuters plans to return $2.2 billion to shareholders in the form of a cash distribution of $4.67 per share and a reverse stock split that will reduce the number of shares outstanding.
Shareholders will be asked to approve the plan at an annual and special meeting planned for 14 June. The proposal needs approval from at least two-thirds of votes cast.
The distribution will use funds raised from the sale of some of the group’s shares in London Stock Exchange Group which are co-owned with investment funds affiliated with US private equity specialist Blackstone, previous owner of Refinitiv, the terminals and data business acquired by LSEG from Thomson Reuters. ■
- Market Watch