Tele Atlas-Tom Tom deal near
Map makers Tele Atlas supports an increased bid from the computer navigation systems manufacturer TomTom and its board has advised shareholders to accept the offer, the company announced on Thursday.
On Wednesday TomTom increased its earlier offer of € 21.25 to € 30 euros per Tele Atlas share, trumping the offer of 24.50 euros per share offered by rival Garmin.
With Tom Tom already in possession of 28% of the map maker, the bidding war is probably now over, said analysts.
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