Information solutions provider Thomson Corporation, US, has announced that it has resumed its share repurchase programme (normal course issuer bid). Under the current programme, the company may repurchase up to 15 million of its common shares. Thomson temporarily suspended repurchases prior to the company's announcement of its proposed acquisition of Reuters Group PLC earlier in May this year.
Thomson continues to expect to receive regulatory clearance for the Reuters transaction in the first quarter of 2008. While the regulatory review process continues, integration planning efforts associated with the acquisition are proceeding on course.
Thomson has entered into a pre-defined plan with its broker to allow for the repurchase of common shares at times when Thomson ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. This plan was adopted in accordance with the requirements of applicable Canadian securities laws and Rule 10b5-1 under the US Securities Exchange Act of 1934.
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