The trustees of London-based Reuters Group have given their consent to a $17.2 billion combination offer from electronic publisher Thomson Corp, based in Toronto.

The new business, which will be named Thomson-Reuters, will be one of the world’s largest financial news businesses, rivaling Bloomberg LP. The businesses also compete in the same space as Dow Jones & Co., which is currently the target of a $5 billion takeover bid from Rupert Murdoch’s News Corp. (WebCPA and its sister print publications were formerly owned by Thomson.)

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