Thomson Financial, the financial information arm of Thomson Corporation, is in exclusive talks to acquire TradeWeb, the bond dealing network, for $500m (€394m) dashing the hopes of three other bidders competing to buy the business.

Reuters, the news and information group that had spent months preparing a bid, has decided not to increase its offer of $300m and has effectively withdrawn its bid for the bank-owned network, according to a source close to Reuters. It made the original bid in summer 2003.