US stock exchange operator Nasdaq OMX Group Inc (NASDAQ:NDAQ) said today that it had made a binding offer to take over the investor relations, public relations and multimedia solutions operations of domestic business information provider Thomson Reuters Corp (NYSE:TRI) for USD390m (EUR299.1m) in cash.
The buyer said it expects to sign a definitive deal after the completion of an information and consultation process, which both companies had started with relevant works councils, unions and employee representatives. The acquisition is also subject to customary closing conditions, including regulatory approvals.
Nasdaq OMX expects that the addition would boost its earnings per share in the first full year, excluding transaction-related costs.
The operations being acquired provide insight, analytics and communications solutions to more than 7,000 clients worldwide. Upon completion of the deal, which is expected to occur in the first half of 2013, they will continue to operate as independent companies within the buyer’s corporate solutions division.