Reuters reports that its own shares sharply rose in trading Wednesday as rumours circulated that a bid for the news information provider was likely from giant Canadian information group Thomson Corporation.
Although shares were generally down in the session, Reuter's stock rose over 6% at one point Wednesday morning. Investors were believed to be purchasing shares on hopes that the rumours about Thomson would prove to be true.
Analysts and money managers think a bid is, however, unlikely due to regulatory concerns and the fact that Thomson would not want to make a major acquisition at a time of such market turmoil. Reuters shares have fallen by over 60% this year.
For once, Reuters refused to comment on a story!