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Thomson Reuters puts health unit back on block: sources
March 20, 2012 / 11:18 PM / 6 years ago

Thomson Reuters puts health unit back on block: sources

(Reuters) - News and information company Thomson Reuters Corp has resumed an auction of its healthcare unit after shelving the process last year due to tough market conditions, sources familiar with the situation said.

Thomson Reuters branding is seen on the nose of the Williams Formula One car driven by Rubens Barrichello of Brazil outside Kuala Lumpur April 7, 2011. REUTERS/Tim Chong

More than one bidder is vying for the unit, which provides data, analytics and other services related to the industry to companies, government agencies and healthcare professionals, one of the sources said.

Thomson Reuters declined to comment.

Robert Daleo, vice chairman of Thomson Reuters, made a presentation to the board three weeks ago and said the unit would be put back on the market, the source said.

Several new bidders, including private equity firms, have emerged and it appears Thomson Reuters will be able to secure the valuation it was looking for before suspending the sale last year, the source said.

A deal could be wrapped up by the end of the month, said one source. A second source cautioned that a deal could take longer.

The company first said last June that it planned to sell the unit. But in December it suspended the sale, saying tough economic conditions made it difficult to fetch a good enough price.

Mergermarket earlier reported the news of the sale.

Reporting by Peter Lauria and Jessica Hall; Editing by Gary Hill

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