Thomson Reuters Board Recommends Shareholders Vote In Favor Of Return Of Capital Transaction

(RTTNews) - Thomson Reuters (TRI, TRI.TO) finalized its planned uses of its approximate $2.3 billion of gross proceeds related to dispositions of shares in LSEG co-owned by the company and certain investment funds affiliated with Blackstone. Approximately $2.2 billion will be returned to shareholders through a return of capital transaction consisting of a cash distribution of $4.67 per common share and a share consolidation, or "reverse stock split".

The proposed transaction requires approval by at least two-thirds of the votes cast at the shareholder meeting. Woodbridge has indicated that it plans to vote in favor.

Thomson Reuters expects to effect the proposed transaction by the end of June.