Reuters is reportedly “close to agreeing a take-over of rival Telerate”, according to a report last Thursday on Dow Jones Newswires, which quoted an unnamed source as saying that the two companies are close to an agreement which would value Telerate at $200 million to $300 million. According to the DJN report, the payment would be a mixture of stock and cash.
“We have no comment to make about speculation and rumour,” says a spokesperson for Reuters, which reports its interim results tomorrow.
Telerate is currently owned by One Equity Partners, a unit of JP Morgan via its acquisition of Bank One. Comment from Telerate could not be obtained by press time. When former Telerate owner Bridge Information Systems broke up in 2001, Reuters acquired certain Bridge assets, but left Telerate International to Moneyline, which purchased the financial content provider for $15 million.