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CNN – Amsterdam shares were traded higher at midday, although TomTom crashed as rival Garmin announced an intended 24.50 eur-per-share offer for Tele Atlas. At 12.21 pm, the AEX was up 1.03 points or 0.19 pct higher at 546.28.
Government bonds traded lower. TomTom provided the story of the day, falling 14.58 pct to 57.90 eur as US rival Garmin trumped its 21.25 eur-per-share offer for Tele Atlas with a 24.50 eur-per-share offer. The move prompted speculation TomTom will raise its offer for Tele Atlas, with Petercam analyst Eric de Graaf saying he expects TomTom will make a higher bid of at least 27 eur-per-share, and sees a knockout price of around 30 eur.
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