Thomson Reuters Corporation will buy FX Alliance (FXall), which runs a forex trading portal, for about $625 million in cash, the global news and information provider said on Monday.

Thomson Reuters will offer $22 per share for FXall, a premium of about 40 per cent over Friday's close of $15.70 on the New York Stock Exchange. According to Reuters data, the deal is worth $625 million.

Thomson Reuters, which provides news and information to financial, legal, accounting and healthcare professionals, expects the deal to close in the third quarter.

Barclays is acting as financial advisor to Thomson Reuters while JP Morgan is the financial advisor to FXall. – Reuters