Business
Thomson Reuters Announces Definitive Agreement to Sell its Intellectual Property & Science Business to Onex and Baring Asia for $3.55 billion
Thomson Reuters Announces Definitive Agreement to Sell its Intellectual Property & Sci...
About this update from Onex Corporation
[{"type":"text","content":"\n\n\n\nThomson Reuters Announces Definitive Agreement to Sell its Intellectual Property & Science Business to Onex and Baring Asia for $3.55 billion\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n\n\n\n\n\n\nThomson Reuters Announces Definitive Agreement to Sell its Intellectual Property & Science Business to Onex and Baring Asia for $3.55 billion\nCanada NewsWire\nNEW YORK, July 11, 2016\n\n\n\nNEW YORK, July 11, 2016 /CNW/ -- Thomson Reuters (TSX/NYSE: TRI) today announced that it has entered into a definitive agreement to sell its Intellectual Property & Science business to private equity funds affiliated with Onex Corporation (\"Onex\") and Baring Private Equity Asia (\"Baring Asia\") for $3.55 billion in cash. \n\n\nThe sale is subject to regulatory approval and customary closing conditions, including the expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act, and is expected to close in the next few months. The sale is not subject to any financing condition. Onex and Baring Asia have obtained debt and equity commitments for the transaction.\n\nThe Intellectual Property & Science business provides comprehensive intellectual property and scientific information, decision support tools and services that enable the lifecycle of innovation for governments, academia, publishers and corporations to discover, protect and commercialize new ideas and brands. Its portfolio includes Web of Science, Thomson CompuMark, Thomson Innovation, MarkMonitor, Thomson Reuters Cortellis and Thomson IP Manager. \n\n\"We are pleased to announce the agreement today to sell our Intellectual Property & Science business to Onex and Baring Asia,\" said Jim Smith, president and chief executive officer of Thomson Reuters. \"With the completion of this divestitur...