Topic: How To Invest

The Successful Investor Hotline – Friday, March 10, 2023

Article Excerpt

THOMSON REUTERS CORP., $165.70, Toronto symbol TRI, is a buy. The company sells specialized information (mainly through electronic channels) to professionals in the legal, and tax and accounting fields. It also owns the Reuters news service. Thomson continues to wind down its stake in financial information provider Refinitiv. In January 2021, the company and Blackstone Group LP (New York symbol BX) merged Refinitiv with the London Stock Exchange Group plc (Over-the-counter Pink Sheets symbol LDNXF). The company now owns roughly 12% of the LSE, which was worth $5.6 billion as of January 31, 2023. This week, Thomson and Blackstone agreed to sell LSE shares worth a combined $2.0 billion U.S. in a private placement. The LSE also plans to buy back a further $885 million U.S. of its shares from these firms by April 2024. Thomson plans to use the cash to buy back $2 billion U.S. of its own shares in the first half of 2023. That’s equal to 4% of its $79.0…