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Tele Atlas to review TomTom's sweetened bid

Wed Nov 7, 2007 6:51am EST

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AMSTERDAM, Nov 7 (Reuters) - Dutch digital map company Tele Atlas TA.AS, which is at the centre of a bidding war between navigation device makers Garmin (GRMN.O) and TomTom (TOM2.AS), said on Wednesday it would review TomTom's revised offer.

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Tele Atlas said in a statement it had received the intended bid from TomTom, raised to 30 euros per Tele Atlas share from a previous 21.25 euros, valuing the company at about 2.9 billion euros ($4.2 billion).

U.S. market leader Garmin offered 24.50 euros per Tele Atlas share last week. (Reporting by Gilbert Kreijger)

Mergers & Acquisitions


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