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Reuters Founders Share Company confirmed its support for the deal this morning, but said it still needed regulatory clearance.

The combined business, named Thomson-Reuters, will have revenues of about £12bn, overtaking Bloomberg at the top of the financial data market.

Reuters chief executive Tom Glocer will become chief executive of the dual-listed company, while Thomson chief executive Richard J. Harrington is due to retire when the transaction is completed.

Glocer said: "The combination of these two great businesses will create an exceptional global information company guided by the Reuters Trust Principles."

Thomson will pay 352.5p in cash plus 0.16 of a Thomson share for each Reuters share. Based on the Thomson closing price on Monday, the offer is worth 692p per share, valuing Reuters at around £8.7bn.

The two companies announced just over a week ago that they were in talks.

The deal could have been blocked by the Founders Share Company, run by 15 trustees, if it thought Reuters editorial independence was at risk. The company owns the Founders Share, also known as a golden share, which can block a hostile bid.

Pehr Gyllenhammar, chairman of the trustees, said: "We believe that the formation of Thomson-Reuters marks a watershed in the global information business and will underpin the strength, integrity and sustainability of Reuters as a global leader in news and financial information for many years to come."

The Thomson family, which owns 70% of Thomson Corp via its Woodbridge holding company, backed the takeover.

Woodbridge will own 53% of the Thomson-Reuters group and will be granted exemption to the 15% shareholding limit set by the Reuters Trust Principles as long as it remains controlled by the Thomson family.

Thomson and Reuters news and financial businesses will now be called Reuters and other existing Thomson businesses will be known as Thomson-Reuters Professional.