London - Global news agency Reuters "looks set to endorse" a buyout offer from fellow financial news provider Thomson Corp., the Financial Times reported on Friday.

Rupert Murdoch's News Corp., which this week bid $5 billion for Dow Jones & Co., was also reportedly interested in Reuters.

Shares of Reuters were up as much as 30% on news of the takeover bid, which it confirmed in a statement. "The board of Reuters confirms it has received a preliminary approach from a third party which may or may not lead to an offer being made for Reuters," the company said.

A merger with Canada's Thomson would create a company with a larger share of the market than rival Bloomberg.

Any deal would require the approval from the directors of both companies and The Reuters Founder Share Co., a group of 15 trustees set up to ensure the company's "independence, impartiality, integrity and freedom from bias."

Related Links:
http://www.ft.com/cms/s/761152aa-fa21-11db-8bd0-000b5df10621.html

http://tinyurl.com/34pmcq (Reuters)