Canadian publisher Thomson has agreed to buy Reuters for about £8.7 billion to create the world's biggest financial news and information group.
In a joint statement, the companies said the deal had the support of the Reuters Founders Share Company but still needed regulatory clearance.
The Founders Share Company could have blocked a takeover if it thought Reuters' editorial independence was at risk.
The Thomson family, which owns 70% of the Toronto-based group via its Woodbridge holding company, backs the takeover and several Reuters investors have said they believe the offer of 352.5p and 0.16 Thomson shares for each Reuters share is fair.
Thomson-Reuters will have revenues of about $12 billion and almost 49,000 employees. With 34% of the financial information market, it will overtake Bloomberg LP, which has 33%.
Thomson, whose publishing interests span law, tax and scientific research, has been building its financial data business as it looks to tap into booming global markets. It sold its education unit for $7.75 billion in cash last week.
The Thomson family's Woodbridge vehicle will own 53% of the new dual-listed Thomson-Reuters group and support the Reuters Trust Principles of integrity, independence and freedom from bias.
Woodbridge will be granted an exemption to the 15% shareholding limit set by the Reuters Trust Principles as long as it remains controlled by the Thomson family, the companies said.
