Welcome to our dedicated page for Thomson Reuters news (Ticker: TRI), a resource for investors and traders seeking the latest updates and insights on Thomson Reuters stock.
Thomson Reuters reports developments across its content, software and technology businesses for legal, tax, audit, accounting, compliance, government and media professionals. Company news commonly covers results for its Legal Professionals, Corporates and Tax, Audit & Accounting Professionals segments, including recurring revenue trends, transaction revenue, Global Print, adjusted EBITDA, free cash flow and outlook updates.
Updates also cover products and partnerships tied to Westlaw, CoCounsel and Reuters News, along with capital actions such as dividends, share repurchases, returns of capital and share consolidation transactions. TRI news may also include investor conference appearances and shareholder voting or court approvals for corporate arrangements.
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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 US$500 million. This acquisition aims to enhance Elite's capabilities in providing practice management solutions to law firms, assisting them in automating financial workflows. The partnership is expected to fuel Elite's growth by allowing it to focus on digital transformations and innovations like AI.
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.