Executives at Reuters met their counterparts at Canada’s Thomson Corporation this week to discuss a takeover of the 156-year-old UK-listed news and data provider in the latest move in the battle for control of the lucrative financial news market.

The approach was described on Friday as “friendly” by people familiar with Reuters’ thinking, but success will hinge on whether the two sides can convince directors of the Founders Share Company, a body set up to safeguard Reuters’ independence, that its editorial integrity would not be compromised.