Thomson Buys TradeWeb
FRONT PAGE: CONNECTIVITY
NEW YORK--As expected, Thomson Financial is acquiring fixed-income dealer-to-customer portal TradeWeb for $535 million.
The closing price was $385 million in cash, plus contingent payments of up to $150 million over the next three years, based on revenue growth targets, for a total of $535 million. Thomson officials say the revenue targets are based on TradeWeb’s current growth rates, which haven’t been disclosed. Industry estimates ranged from $400 million to $600 million for the total purchase
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