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TORONTO (Reuters) - Thomson Reuters Corp Chairman David Thomson urged the company's board of directors to seek better terms for its $17 billion sale of a large chunk of its business to Blackstone Group LP, the Wall Street Journal reported on Thursday, citing people close to the deal.
Blackstone last month agreed to buy a majority stake in Thomson Reuters' Financial & Risk division, which competes against privately held Bloomberg in providing bankers and investors with news, data and analytics.
Thomson eventually voted in favour of the deal, but only after telling other directors he was concerned they had not sought a higher price or considered other potential buyers for the business, according to the newspaper, which did not identify its sources.
Blackstone last summer initiated talks to buy a majority of the Financial & Risk business, a deal strongly supported by Thomson Reuters Chief Executive Jim Smith and directors including Woodbridge's Binet, according to the newspaper.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)