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Thomson could seal TradeWeb deal in weeks - DJN

19 February 2004  |  6860 views  |  0 Thomson Financial

Thomson Financial could reach a deal to acquire electronic bond trading platform TradeWeb within four to six weeks, an informed source has told Dow Jones Newswires.

The dealer-owned fixed income network is understood to be in exclusive talks with Thomson after Reuters pulled out of negotiations. Thomson apparently outbid Reuters with a $400-$500 million plus earn-out offer says the newswire report.

The latest unconfirmed reports add to the market speculation that has swirled around TradeWeb since September, when rumours of a possible Reuters' bid first surfaced.

The online dealing platform counts 1400 of the largest buyside institutions as its customers. A buy-out by Thomson would put the firm toe-to-toe with Bloomberg in the fixed income markets.

TradeWeb's smaller rival MarketAxess last week filed for a $150 million IPO with US market regulators.

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