Blackstone-led consortium to take majority stake in Thomson Reuters’ F&R unit

U.S. private equity firm Blackstone Group LP  catapulted itself into the big leagues of Wall Street’s financial information industry on Tuesday with the acquisition of a majority stake in the Financial and Risk business of Thomson Reuters Corp.

The deal, announced by the companies in a statement, is Blackstone’s biggest bet since the financial crisis. co-founder Stephen Schwarzman will go head to head against fellow billionaire and former New York mayor Michael Bloomberg, whose eponymous terminals are the market leader in providing traders, bankers and investors with news, data and analytics.

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