Thomson to Buy Primark for $842 Million

Thomson Corp., having decided to shed its U.S. newspapers to focus on information services, is paying $842 million in cash to buy another provider of professional and financial information, Primark Corp. The deal, which values Primark at $38 a share, would give Thomson a stable of well-regarded names in the information services field, including the Yankee Group, a business consultancy; EDGAR Direct, a financial data provider; and Primark Decision Economics. Toronto-based Thomson will also assume about $235 million in debt in the deal. Shares in Waltham, Mass.-based Primark soared $8.25 to close at $37.25 on the NYSE. Thomson announced in February that it would sell its U.S. newspaper holdings, made up mostly of 49 local and regional dailies. Toronto-based Thomson is keeping its flagship Toronto newspaper, the Globe and Mail.