Topic: How To Invest

The Successful Investor Hotline – Friday, August 6, 2021

Article Excerpt

THOMSON REUTERS CORP., $140.72, Toronto symbol TRI, remains a buy. The company now focuses on selling specialized information and software to the legal, tax and accounting fields. That follows the sale of 55% of its Refinitiv financial information business to Blackstone Group LP (New York symbol BX) on October 1, 2018, for $17 billion (all amounts except share price in U.S. dollars). The company also owns the Reuters news service. On January 29, 2021, Thomson and Blackstone merged Refinitiv with the London Stock Exchange Group plc (Over-the-counter Pink Sheets symbol LDNXF). Under the terms of the deal, Thomson now owns roughly 15% of the combined firm. As of August 4, 2021, that holding was worth $7.5 billion. Thomson and Blackstone have agreed to hold onto their shares for now, but they can sell them in tranches starting in January 2023; the lock-up agreement expires in full on January 29, 2025. The company will probably use those future proceeds to expand its main businesses. For…