Reuters, Instinet To Merge, Setting Stage For Launch Of Integrated Data Network
THIS MONTH'S LEAD STORIES
With its acquisition of Instinet Corp. and the imminent launch of its U.S. equities feed, Reuters Holdings PLC has the elements in place for its assault on the U.S. securities industry. Tying all of the pieces together will be Triarch, a new LAN-based digital trading room system from Reuters subsidiary Rich, Inc.
Instinet's board quickly accepted the Reuters bid after the offer was sweetened from $7.25 to $8.50/share, thereby putting Instinet's market value at $102 million. Reuters will pay in
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