“TomTom NV, the Dutch supplier of navigation applications for Apple Inc.’s iPhone 5, rose the most in eight weeks after an analyst at Rabobank International said the U.S. company may make a takeover bid,” Maaike Noordhuis reports for Bloomberg.
“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.”
Read more in the full article here.
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