Bidding War Between Garmin and TomTom Over Tele Atlas
By: Kerry | November 19, 2007
We have all predicted that the bidding war between Garmin and TomTom over the takeover of Tele Atlas and yes it has certainly come to fruition.
It is reported that TomTom is all set to go ahead with a $4.2 billion bid taking place which is said to be taking place today.
It is said that Garmin offered a measly $3.3 billion. Just only a few months ago TomTom’s offer was $2.5 billion.
Tele Atlas will hold an extraordinary shareholders meeting on December 7 to discuss the offer.
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TomTom puts in $2.5 billion bid for Map Maker Tele Atlas
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