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 HARTFORD, Conn. (AP) - The Thomson Corp., which has proposed paying more than $17 billion for British financial news provider Reuters Group PLC, freed up cash Friday by announcing that it agreed to sell education and publishing-related properties for $7.75 billion.
The agreement to sell Thomson Learning to two companies is seen as preparation for the company's blockbuster proposal to purchase Reuters. The deal, disclosed last week, would make Thomson-Reuters the world's leader in providing real-time data to traders and investment professionals.
Friday's deal was "quite a bit more than was expected by most analysts. That should augur well for their bid for Reuters," said John R. Kinsey, portfolio manager at Caldwell Securities in Toronto.
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