Bridge and some of its affiliates have been in reorganisation proceedings under Chapter 11 of the US Bankruptcy Code since earlier this year. At a hearing today in St. Louis, Missouri, the court reviewed the results of an auction for Bridge’s business operations. Bridge had declared Reuters the winner of that auction on Monday 30 April 2001.
Reuters acquisition would include the North American operations of Bridge Information Systems; the EJV bond pricing, data and analytics services; Bridge Trading Technologies, including Bridge Trading; eBridge; and the CRB Index.
Reuters and Bridge have entered into a definitive agreement for the acquisition. Reuters intends to make all necessary regulatory filings shortly, with the aim of completing the transaction as soon as possible. The transaction is also subject to finalising an agreement on key terms of a new network services agreement with Savvis Communications, Bridge’s network provider, and to other customary closing conditions specified in the documents filed with the Bankruptcy Court.
