TRI - Thomson Reuters to return ~$2.2B to shareholders

2023-04-04 08:16:12 ET

• Thomson Reuters ( NYSE: TRI ) is set to return ~$2.2B to shareholders through a transaction consisting of a cash distribution of $4.67 per share and a share consolidation.
• The share consolidation will reduce the number of outstanding shares on a basis that is proportional to the cash distribution.
• Shareholders will be required to approve the cash distribution and the reverse stock split at the business information services company's upcoming annual and special meeting of shareholders to be held on Wednesday, June 14 at 12:00 p.m. EDT.
• The proposed transaction requires approval by at least two-thirds of the votes cast at the shareholder meeting.
• Shareholder Woodbridge plans to vote in favor of the transaction, in accordance with the recommendation of the board.
• Thomson Reuters expects to effect the proposed transaction by June-end.
• The capital used for the transaction will be from the ~$2.3B in gross proceeds collected from the disposition of its shares in London Stock Exchange Group and certain investment funds affiliated with Blackstone.
• Source: Press Release

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