TomTom to extend offer period for Tele Atlas shares pending EU approval |
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Published
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Wed, 28 Nov 2007 08:42
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AMSTERDAM (Thomson Financial) - TomTom NV said it has extended the tender offer period for Tele Atlas NV shares until March 31, pending finalisation of the procedural EU regulatory investigations into the takeover.TomTom said that the European Commission has started a so-called Phase 2 investigation into the buy, which should see the total investigative period extended by a maximum of 125 days.Personal navigation device manufacturer TomTom has put out a 30 eur per share bid on map maker Tele Atlas. The bid is being supported by the management and supervisory board of Tele Atlas.By Kaj Leers, kaj.leers@thomson.comkel/slmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Tele Atlas recommends Garmin offer; says TomTom has right to match offer 