Woodbridge may exchange up to 10 million shares of Thomson Reuters

By Lisa Kerner

Charlotte, N.C., Sept. 18 - Thomson Reuters controlling shareholder Woodbridge Co., Ltd. completed a Canadian regulatory filing in order to sell up to 10 million Thomson Reuters Corp. common shares, or 2% of Woodbridge's holdings, and use the proceeds to concurrently buy Thomson Reuters plc ordinary shares.

Woodbridge said it is considering the transactions in order to facilitate trading of the two issues of stock, which have been impacted by arbitrage activity.

Woodbridge is not committed to the transactions under the filing, a Woodbridge news release said.

Sales of Thomson Reuters Corp. shares would be effected on the Toronto Stock Exchange, while the purchase of Thomson Reuters plc ordinary shares would be effected through the London Stock Exchange.

One ordinary share of Thomson Reuters PLC is equivalent to one common share of Thomson Reuters Corp. under Thomson Reuters dual listed company structure, the release said.

Woodbridge and its affiliates own a total of 453,488 Thomson Reuters Corp. common shares and 50,000 Thomson Reuters plc American Depositary Shares, each representing six Thomson Reuters plc ordinary shares, as of Sept. 17.

The investor has a 55% voting interest in Thomson Reuters.

In April, Thomson Corp. acquired Reuters Group plc to form Thomson Reuters, a New York information services company.

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