Thomson Reuters Agrees Takeover Deal with FX Alliance

Thomson Reuters said it has agreed a US$625m deal that will see it pay US$22 per share to acquire 100% of the shares of electronic currencies trading platform FX Alliance (FXall).

Under the agreement, Thomson Reuters said that it will launch a tender offer, subject to standard regulatory approvals, for the acquisition in the coming days. Fxall’s board has unanimously resolved to recommend that all shareholders tender their shares into the offer. It added that both companies have complementary customer bases and long standing relationships with bank liquidity providers.

FXall has more than 1,300 institutional clients including asset managers, corporations, banks, broker-dealers and hedge funds. Abel Clark, managing director, marketplaces for Thomson Reuters said: “This combination will enable us to provide our customers with integrated management of trades though the entire lifecycle, delivering the benefits of a more streamlined trading process and more efficient execution.”