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Thomson Reuters Corporation (NYSE/TSX: TRI) is a global content and technology leader, delivering trusted intelligence, technology, and human expertise to professionals. With a focus on the financial and risk, legal, tax and accounting, and media markets, Thomson Reuters empowers professionals to make the decisions that matter most, supported by the world's most trusted news organization.
The company is the result of a $17.6 billion merger in 2008 between Canada's Thomson and the UK's Reuters Group. Thomson Reuters' core segments include Legal Professionals, Tax and Accounting, and Corporates, collectively contributing to the majority of its revenue and adjusted EBITDA. The Legal Professionals segment, which generates around 42% of the firm's revenue, offers solutions that enable legal professionals to enhance productivity, manage risk, and drive efficient compliance. Meanwhile, the Tax and Accounting segment, making up about 20-25% of the firm's revenue, provides software and services that assist professionals in managing tax compliance, planning, and financial reporting.
Thomson Reuters has diversified into strategic partnerships and acquisitions to bolster its market presence and expand its service offerings. Recent notable acquisitions include Pagero Group AB, a leader in e-invoicing and indirect tax solutions, and World Business Media Limited, a provider of editorial coverage for the insurance industry. These acquisitions align with Thomson Reuters' strategic vision to offer a comprehensive suite of global indirect tax, reporting, and e-invoicing solutions.
The company's financial condition remains robust, with strong revenue growth, strategic capital allocation, and consistent shareholder returns. In recent years, Thomson Reuters has focused on delivering innovative solutions powered by Generative AI, enhancing its product portfolio, and driving digital transformation across its client base. The firm’s commitment to innovation is evident through launches like AI-Assisted Research on Westlaw Precision and various AI-driven enhancements across its product suite.
Thomson Reuters is listed on the Toronto and New York Stock Exchanges, and its extensive product line reaches a global customer base. The company's revenue streams are well-diversified across its primary segments, ensuring stability and growth potential. The firm's strategic focus on expanding compliance, automation, and digital solutions positions it well to navigate the evolving regulatory and technological landscape.
On April 26, 2023, Thomson Reuters (NYSE/TSX: TRI) filed its management proxy circular for the upcoming annual meeting, where shareholders will vote on a proposed return of capital transaction. This transaction involves a cash distribution of US$4.67 per common share, totaling around US$2.2 billion, and a share consolidation (reverse stock split) based on the share's trading price. The distribution is generally expected to be tax-free for Canadian shareholders, with an opt-out option available for shareholders in other jurisdictions to potentially avoid unfavorable tax consequences. The shareholder meeting is scheduled for June 14, 2023, at 12:00 p.m. EDT, and will be webcasted. Shareholders as of April 21, 2023, are entitled to vote.
TPG has signed an agreement to acquire a majority stake in Elite from Thomson Reuters for approximately
Thomson Reuters will retain a minority stake and board representation, continuing its strategic support. The transaction is anticipated to close in Q2 2023, pending regulatory approvals.
Thomson Reuters (TSX/NYSE: TRI) announced a plan to return approximately US$2.2 billion to shareholders through a cash distribution of US$4.67 per common share and a share consolidation. This comes from gross proceeds linked to the sale of shares in the London Stock Exchange Group. Shareholders will vote on this proposal at the annual meeting on June 14, 2023, with a two-thirds majority required for approval. The transaction is expected to conclude by the end of June and is primarily tax-free for Canadian residents. Non-Canadian residents can opt out, maintaining their shares, to potentially avoid tax implications.
Thomson Reuters (NYSE, TSX: TRI) will release its first-quarter 2023 earnings on May 2, 2023. A conference call and webcast will follow on the same day at 9:00 a.m. EDT, hosted by CEO Steve Hasker and CFO Mike Eastwood. This event is expected to cover forward-looking information relevant to the company's performance. Investors can register for the webcast via the Investor Relations section on the Thomson Reuters website. The company is recognized for providing essential information and technology for professionals across various sectors, including legal, tax, and media.
Thomson Reuters (TSX/NYSE: TRI) will have its CEO, Steve Hasker, present at the Bank of America Securities 2023 Information Services Conference on March 16, 2023, at 10:30am EDT. The presentation is expected to contain forward-looking information, offering insights into the company's strategic direction. A live audio webcast of the event will be accessible in the 'Investor Relations' section of TR.com, along with an archived version post-presentation. Thomson Reuters is recognized for its comprehensive business information services, encompassing specialized software tools for legal, tax, accounting, and compliance professionals.
Thomson Reuters (TSX/NYSE: TRI) announced the sale of 28 million shares of London Stock Exchange Group PLC (LSEG) at £71.50 per share, generating approximately
Thomson Reuters (TSX/NYSE: TRI) has filed its annual report for the year ended December 31, 2022. The report includes audited financial statements and management's discussion and analysis. It is accessible in the Investor Relations section on their website and has been submitted to Canadian securities regulators and the U.S. SEC on Form 40-F. Hard copies of the report can be requested via email or through the company's Investor Relations office in New York. Thomson Reuters continues to be a leading provider of business information services, including specialized software and tools for professionals.
On March 1, 2023, Thomson Reuters announced that its President and CEO, Steve Hasker, along with CFO Mike Eastwood, will present at the Scotiabank TMT Conference on March 8, 2023, at 11:40 am EST. The presentation is expected to include forward-looking information about the company's future performance and strategic direction. Following the event, a replay will be accessible in the Investor Relations section of TR.com. Thomson Reuters is a premier provider of business information services, specializing in legal, tax, accounting, and compliance solutions.
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