Why Thomson Won’t Buy Reuters
THE INSIDE TRACK
We are always amazed at how stock prices can move on speculation. A case in point: the "Thomson-is-taking-over-Reuters" rumor that was flying around last week. The rumor took Reuters’ American Depository Shares (ADS) from a closing price of $17.75 a share on Nov. 1 to $20.49 on Nov. 6, a move of 15 percent.
The rumor gained traction on Nov. 6 and 7, when ADS share volume averaged 242,000--more than double the average of 117,000 shares in the previous five sessions.
First of all, this rumor has
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