Thomson Reuters has agreed an offer for Breakingviews which would see it combining the decade-old financial commentary site with its own nascent effort to diversify away from increasingly commoditised factual reporting.

David Schlesinger, editor-in-chief of Reuters, would not be drawn on the terms of the deal but other people familiar with its terms said it valued Breakingviews’ equity at about £13m, or £12m net of cash on its balance sheet. Breakingviews shareholders have yet to approve the deal.