Thread regarding Thomson Reuters layoffs

Perception

What’s the perception of the TR board of directors when they agree to sell 55% of F&R business for $17 billion and the company they sold it to then resells it for $27 billion less than 12 months later ?
David Thomson said it was sold to cheap ...but

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Post ID: @OP+10jZE5MY

8 replies (most recent on top)

At the time of the TR/Refinitiv split, Refinitiv employees were told that Blackstone would be holding the company for a longer term (at least 5 years) before looking to do anything with Refinitiv. An outright lie. I really feel for anyone left on either side of the business.

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Post ID: @Pypu+10jZE5MY

@10jZE5MY-Dtai

Interesting question - Blackstone paid cash for F&R, taking on debt. LSEG proposes (not closed yet mind you) to buy Refinitiv using stock. Doesn't that make a difference and does that justify the difference of $10M - all esoteric - it is The Stockholder's money.

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Post ID: @Eyqf+10jZE5MY

@3hjz

Wouldn’t the stock price be higher if they had sold F&R for $27 billion rather than $17?

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Post ID: @Dtai+10jZE5MY

There hasn't been an entrepreneur named Thomson for a looooong time.

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Post ID: @5mpn+10jZE5MY

3hjz - well said. Got to keep the Thomson family’s $40 billion growing.

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Post ID: @3tpm+10jZE5MY

Remember, all of this is about getting the price of the stock to rise. Why do you think they did all those stock buybacks? The Thomson family demands it and that’s how the executives cash out. That’s all that matters. Buy, sell, lay-off...whatever. People who achieve that level of power and influence didn’t get there because they were nice. Remember these guys are corporate executives, not entrepreneurs. They’ve strived all their lives to get to this position and nothing will stop them from doing whatever they have to in order to get what they have convinced themselves they deserve. If you think the London exchange acquisition of F&R just dropped out of the sky and Jimmy wasn’t behind the scenes orchestrating it, you are naive. It will make TR’s stock rise. The amount of money that changes hands isn’t what they really care about. TR will divest their remaining 45% and use the money to buy back more stock. That drives up the share price so Jimmy and cronies can leave worth hundreds of millions of dollars. That’s the reality of big business in America.

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Post ID: @3hjz+10jZE5MY

Some generalizations here, but I believe the my comments are valid:
1) Buy High / Sell Low (That sums up Thomson's acquisition of Reuters).
2) It's a shame that all the value created or maintained from layoffs over the last decade+ may have been handed over to Blackstone and the London Stock Exchange.
3) It seems that having a CEO, CFO, and a Chairman who have never truly grown a business that wasn't handed to them may be the root cause of the problem.
4) Organic Growth is not easy, but how was Facset able to do it.

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Post ID: @1isr+10jZE5MY

So glad I had to lose my job as a result of this transaction. Thanks Jim!

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Post ID: @lbh+10jZE5MY

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