Telerate Buys Canada's CMQ For US $75 Million, Blocking Thomson Bid And Adding Equities To Arsenal
THIS MONTH'S LEAD STORIES
As expected, Telerate, Inc. has acquired Toronto-based quote vendor CMQ Communications Inc. (MTR, October 1987). The purchase price was US$75 million. While both firms crow about strategic fit, Telerate's underlying motives for the deal were more defensive than offensive, and the company now seems a bit perplexed about exactly what to do with its new possession.
"Obviously the significant strategic motivation" for the deal, says Telerate vice president and general counsel Steven Rappaport, is
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