The news that Thomson (West Publishing) is bidding for Reuters has sent the shares of the three major publishers dramatically higher, reports Forbes.
The trading day is far from over, but so far Wolters Kluwer NV is up 4.2 percent at 23.82 euros ($32.37) and Reed Elsevier has gained 4.3 percent to 14.29 euros ($19.42). Shares of Thomson rose 32 cents, or 1.7 percent, to $19.46. The target is up 25%.
Slaw readers may remember that Thomson is cash-rich because of its sale of Thomson Learning educational division, expected to close by September. The sale of the division, which sells textbooks and educational software, could generate as much as $6-billion (U.S.).