Thomson Reuters Court Approval Secures US$605M Cash Return and Reverse Split
TRI•The Ontario Superior Court approved Thomson Reuters’ US$605 million return of capital and proportional reverse share consolidation, equating to about US$1.36 per common share. Subject to TSX and Nasdaq sign-off, the plan becomes effective May 4, with post-consolidation shares trading under a new CUSIP and cash distributions following.
1. Court Approval and Capital Return
The Ontario Superior Court issued a final order approving Thomson Reuters’ plan of arrangement for a US$605 million special cash distribution and proportional reverse share consolidation. Shareholder approval was secured on April 28, and the distribution equates to an estimated US$1.36 per common share based on outstanding shares as of the record date.
2. Timeline, Trading and Distribution Mechanics
Final approvals from the TSX and Nasdaq are required before determining the exact cash distribution per share and reverse split ratio after market close on May 1. The transactions will become effective at 3:01 a.m. EDT on May 4, with post-consolidation shares trading under a new CUSIP and cash distributions delivered to participating shareholders shortly thereafter; opting-out shareholders will retain their pre-split share count but gain proportionally increased equity interests.
