“TomTom closed 5.65 percent higher at 4.06 euros in Amsterdam, the biggest jump since Oct. 15,” Noordhuis reports. “There’s a 30 percent chance that Cupertino, California- based Apple will seek a purchase because the Dutch software maker has the capacity to make speedy changes to correct any mapping errors or create new functions, Hans Slob, an Utrecht, Netherlands-based analyst at Rabobank, said in today in a research report.”
“‘TomTom needs the cash from Apple, and Apple needs the know-how of TomTom,’ said Slob, who estimated Apple would pay a price of as much as 10 euros per share,” Noordhuis reports. “A takeover is also a ‘royal way out’ for the Dutch company’s founders, said Slob, who has a buy recommendation on TomTom and raised his share- price estimate by 38 percent to 5 euros.”
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