TomTom launches offer for Tele Atlas
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After yesterday's news of Nokia (NYSE: NOK) buying Navteq (NYSE: NVT), today TomTom launches an offer for Tele Atlas. TomTom is a Dutch navigation systems company, while Tele Atlas provides digital maps.
Analysts believe that Nokia's $8.1 billion offer for Navteq could change the industry landscape and make the combined company of TomTom and Tele Atlas a takeover target itself. TomTom confirmed the offer price of 21.25 euros per share in cash, but Tele Atlas shares continued to trade above the offer price after Nokia made the offer for rival map maker Navteq.
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