by Mike Masnick

Filed Under:
conditions, eu, mergers

garmin, tele atlas, tomtom

TomTom's Attempt To Buy Tele Atlas Gets Even More Complex

from the thanks-EU,-you've-made-Garmin-happy dept

You may recall just how well GPS-device maker Garmin played the acquisition game last last year, forcing its main rival, TomTom to spend much, much more than originally intended in a deal for map maker Tele Atlas. Every step that Garmin took seemed to work to its advantage, first raising the bid for Tele Atlas, forcing TomTom to nearly double its bid, then buying up some Tele Atlas shares on the open market so that it's actually making a profit when it sells those shares to TomTom, and finally signing a long term deal with Tele Atlas competitor Navteq (which Nokia is acquiring). Following all this, Garmin must be giddy to find out that the EU has objections to the TomTom purchase which will force the company to make concessions. These objections won't scuttle the deal completely, but will (of course) make it somewhat less than what TomTom hoped it would be. Garmin must be thrilled.

Reader Comments (rss)

(Flattened / Threaded)

  1. identicon
    Anonymous Coward, Mar 3rd, 2008 @ 7:32pm

    The EU has objections to a Tele Atlas and TomTom Purchase?

    With both companies out of the Netherlands, only one phrase comes to mind.

    Elmer Fudd: "I smell a waskly wabbit."

    reply to this | link to this | view in thread ]

Add Your Comment

Have a Techdirt Account? Sign in now. Want one? Register here
Get Techdirt’s Daily Email
Use markdown for basic formatting. HTML is no longer supported.
  Save me a cookie
Follow Techdirt
Insider Shop - Show Your Support!

Report this ad  |  Hide Techdirt ads
Essential Reading
Techdirt Deals
Report this ad  |  Hide Techdirt ads
Techdirt Insider Chat
Report this ad  |  Hide Techdirt ads
Recent Stories
Report this ad  |  Hide Techdirt ads


Email This

This feature is only available to registered users. Register or sign in to use it.