Thomson Reuters in Unification of Dual Listed Company Structure

Cleary Gottlieb is representing Goldman, Sachs & Co., as financial advisor to Thomson Reuters, in the unification of Thomson Reuters’ dual listed company (“DLC”) structure. The objective of the plan of unification, announced June 22, is to consolidate and improve the trading of the company’s shares and simplify its capital structure. The plan provides for Thomson Reuters to remain listed on the Toronto Stock Exchange and New York Stock Exchange and to cease to be listed on the London Stock Exchange and Nasdaq. Following the proposed unification, Thomson Reuters PLC shareholders will have the same economic interest in Thomson Reuters as they do under the current DLC structure. Thomson Reuters PLC shareholders will receive one share in Thomson Reuters Corporation for every PLC share held. Holders of Thomson Reuters PLC ADSs will receive six Thomson Reuters Corporation common shares for each ADS held. Holders of Thomson Reuters Corporation common shares will continue to hold their existing shares. Completion of the unification of the DLC structure, which was originally put in place in April 2008, is expected by the end of the third quarter of 2009 after the receipt of the approvals of shareholders of both Thomson Reuters Corporation and Thomson Reuters PLC, voting separately, as well as U.K. court approval.

Thomson Reuters is a global source of information for businesses and professionals. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people in 93 countries.