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Navteq Approves Nokia Merger

By Amy Gilroy -- TWICE, 12/12/2007

Chicago — GPS map provider Navteq announced its stock holders approved the previously announced purchase of the company for $8 billion by Nokia.

At a special shareholder meeting today, more than 75 percent of the shares voted in favor of the purchase, billed as a merger.

Recently Navteq was granted early termination of the mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, for the pending merger.

Completion of the merger is still subject to the receipt of regulatory approvals and the satisfaction of the other closing conditions.

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