01 Feb 2018 Blackstone hoping to turn around Thomson Reuters financial data biz: analysts

Blackstone Group LP is set to enter into the already crowded, and continuously changing, financial data market with its largest acquisition bid since the financial crisis.

A consortium led by the private equity giant has agreed to acquire a 55% stake in Thomson Reuters Corp.’s financial and risk business in exchange for cash, debt and preferred equity totaling $17 billion.  With its bid, Blackstone will take on the task of turning around the company’s financial data business, which has been plagued by pressure from competitors who have managed to snatch market share away from the company.

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