Thomson Financial Leads Bidding to 
Buy TradeWeb for $500 Million

 

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Thomson Financial has emerged as the hot favourite to acquire the TradeWeb electronic trading platform for fixed-income securities. Thomson was in exclusive negotiations with TradeWeb for three weeks until last Friday, and is believed to have secured an extension of that exclusive status, according to sources familiar with the discussions.

Thomson's $500 million bid - plus an earn-out arrangement valued by sources at $100 million - puts it ahead of main rival Reuters. Reuters, the sources say, had halted bidding at its limit of eight times TradeWeb's earnings: $400 million.

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