CNN: Wall Street Wary of TA/NAVTEQ Acquisitions
CNN Money reports that both pending acquisitions of Tele Atlas and NAVTEQ have “lost their bearings.” NAVTEQ’s stock is trading almost $10 below the $78 per share offer from Nokia.
Yesterday was the deadline for TomTom to respond to EU questions about the acquisition. What did the EU ask?
Whether:
(1) TomTom and Tele Atlas would keep sensitive information from rival GPS customers confidential,
(2) Tele Atlas would provide TomTom competitors inferior maps,
(3) the combination created efficiencies otherwise unattainable.
The article goes on to note that what happens with TomTom/TA will likely impact Nokia/NAVTEQ and that the drop in stock prices suggests Wall Street is wary.
by Adena Schutzberg on 03/18 at 07:59 AM |
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