U.S. Justice Dept may review Thomson-Reuters deal

WASHINGTON/BRUSSELS (Reuters) - The U.S. Justice Department is likely to review Thomson's (TOC.TO> TOC.N 8.7 billion-pound takeover agreement with Reuters RTR.L, a spokeswoman for the U.S. competition authority said on Tuesday.

Justice Department spokeswman Gina Talamona said the Thomson-Reuters deal to create the world's leading provider of news and data for professional markets would likely be reviewed by her department, which shares authority over merger reviews with the Federal Trade Commission.

Multinationals such as Thomson and Reuters need permission from regulators in Brussels, Washington and elsewhere to complete mergers.

The companies themselves have to determine where competition law requires them to file for permission, but corporations with worldwide markets end up in many jurisdictions.

If they win clearance from the European Commission and the U.S. Justice Department there is rarely trouble elsewhere. Both authorities usually clear deals in one month unless they pose serious competition questions.

In Brussels the process sometimes begins with informal talks before notification. The U.S. and EU agencies may work together, sharing documents and staff, if the companies agree to a joint approach.

In the few instances when a deal raises serious competition questions the Justice Department issues a "second request" and the European Commission opens an "in-depth investigation".

In Brussels competition teams then have a four-month deadline to decide whether to approve a deal.

In the United States companies must turn over documents for the government to use in its review of how a deal would affect competition. In practice there is usually no hard deadline.