July 2, 2010 / 8:33 AM / 7 years ago

Trimble gets 89 pct of Punch shares, ups offer

* Offer increased to 3.20 eur/share from 3.15 eur/share

* Aims to reach 95 pct threshold

* People who have already tendered shares can get new price

BRUSSELS, July 2 (Reuters) - Trimble Navigation (TRMB.O) has increased its offer for Belgium's Punch Telematix PTXB.BR after it missed the 95 percent takeover threshold by just over 5 percent.

The U.S. global positioning specialist said on Friday it had increased its offer for the Belgian maker of on-board computers for trucks, which is majority owned by Punch International PUNC.BR, to 3.20 euros per share from 3.15 euros per share.

It added that shareholders who had previously tendered their holdings would get the increased price.

The new offer period runs from July 7 to July 23, and if Trimble gets 95 percent of the company it will buy it out and delist it from the Brussels Euronext stock exchange, it said.

Trimble first bid for Punch Telematix in April after the Ieper-based company rejected a 2.78 euros per share takeover approach from Belgian rival Transics TRAN.BR. [ID:nLDE63Q0DJ] [ID:nLDE62H09U] (Reporting by Ben Deighton; Editing by Jon Loades-Carter)

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