Mystery Bidder Puts Reuters In Play
Published May 4th, 2007
Reuters Group finds itself on the auction block. Shares in the British news company skyrocketed 25.0%, or 123.5 pence ($2.45), to 615.50 pence ($12.23), on Friday afternoon in London after it revealed that it had drawn the attention of a potential buyer.
The company said in a statement that it had received an approach from an unnamed third party that “may or may not lead to an offer” for the company. The statement was released after shares in Reuters surged in morning trade, which, according to a Reuters news report, was caused by speculation that a 600 pence ($11.92) per share bid could come from media conglomerate Thomson or Rupert Murdoch’s News Corp
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