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Wednesday, August 20, 2014

Australia's SAI Global returns to profit as suitors line up, (NYSE: TRI), (TSE: TRI.TO)

Australian industry compliance firm and takeover target SAI Global Ltd announced on Thursday a return to an annual net profit from a loss the previous year, hitting analysts' forecasts as it fields a number of potential takeover offers.Net profit was A$35.3 million ($32.78 million) for the year to June 30, from a net loss of A$43.2 million the previous year. Excluding one-off restructuring costs, net profit grew 6.3 percent to A$45.0 million, compared with the A$45.56 million average forecast of analysts polled by Thomson Reuters I/B/E/S.The former arm of government-contracted compliance body Standards Australia has been in the sights of private equity companies after two years of declining profit, culminating in the termination of its chief executive officer's contract in May after just four months.The company has said it has "multiple" parties doing due diligence with a view to takeover bids. The only named suitor, Australian takeover firm Pacific Equity Partners, made a A$1.1 billion indicative offer in May before being joined in the approach by private equity giant KKR & Co LP.

Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.11% or $0.04/share to $37.65. In the past year, the shares have traded as low as $32.87 and as high as $38.73. On average, 759261 shares of TRI exchange hands on a given day and today's volume is recorded at 489188.

Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.39% or $0.16/share to $41.30. In the past year, the shares have traded as low as $34.52 and as high as $42.10. On average, 584409 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 724909.



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