Navteq shareholders OK $8.1B acquisition by Nokia
Posted by otto on Dec 14, 2007
SAN FRANCISCO, Dec. 12, 2007 (Thomson Financial delivered by Newstex) — Navteq (NYSE:NVT) Corp. said Wednesday its shareholders have approved the company’s acquisition by Nokia (NYSE:NOK) Corp. for $78 a share, or about $8.1 billion. More than 75% of the issued and outstanding shares of common stock eligible to vote, representing about 99% of the total votes cast at the special meeting, were cast in favor of the deal, the Chicago-based digital-map provider said.
Under the agreement, the Finnish maker of mobile phones acquires all outstanding Navteq options. Navteq shares were up 2 cents at $74.62. Katherine Hunt Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.