Law360, New York (July 09, 2012, 12:02 PM ET) -- Thomson Reuters Corp. is buying electronic foreign exchange platform FX Alliance Inc. for $625 million in cash, the news and information conglomerate said Monday, growing its financial division even as it trims other offerings.
The company will pay $22 per share in cash for New York Stock Exchange-listed FXAll, a premium of about 40 percent over Friday's closing price. With about 28.4 million shares outstanding, that values the deal at $625.2 million.
The move is an effort to reinvigorate its financial services business, where slipping performance...
Fried Frank Reps Thomson Reuters In $625M ForEx Buy
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