Thomson Reuters to sell IP & science business for $3.55 billion

Thomson Reuters Corp (TRI.TO) said it agreed to sell its intellectual property & science business to private equity funds Onex Corp (OCX.TO) and Baring Private Equity Asia for $3.55 billion.

The company said on Monday it expects to use about $1 billion of the net proceeds to buy back shares and the rest to pay down debt.

Source: Reuters