Reuters Wins Bid for Bridge, Will Retain 85 Percent of Bridge Staff
ORGANIZATION AND MANAGEMENT
NEW YORK--Reuters dug deep and delivered the winning bid for Bridge after a weekend-long bidding war with Sungard that did not end until Reuters submitted its final offer April 29 at 11:30 pm.
That bid, which won approval from Bridge’s board of directors at a meeting on April 30 and bankruptcy court approval on May 3, totals $275 million (£191 million). That price includes the Bridge Information Systems business in the US and Canada, plus Bridge Trading and eBridge worldwide. It also includes
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