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Author: TMFCanuck Big gold star, 5000 posts Feste Award Winner! Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 2817  
Subject: Geez.... Date: 10/3/2007 8:57 PM
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...I go away for a couple of weeks, and the world goes a little bit crazy...

So NVT accepts a buyout (colour me shocked!), and GRMN isn't the buyer. Too tired to process anything at present (my body thinks this is coming up on 3:00AM Paris-time), but my quickie thoughts (which may be worth what you paid for them)

* NVT and GRMN have locked in deals for several years (4 - IIRC from a past conference call). No panicking yet.

* NOK buying NVT may be a very good strategic move for NOK - particularly if the NOK's PND offerings follow those of Sony or LG or Phillips (i.e. no one buys them).

* Then again, everyone is going to be thinking - Hmm....a phone buyer buying NVT....navigation on phone! PNDs will become irrelevant. Sell GRMN!

* If GRMN had been the buyer, would the market have reacted similarly (shaving off 1/6 of the company's value in a few days)? In other words, would the acquirer premium have knocked the price down anyway? Or would the euphoria have reached an even greater height even though GRMN would have arguably have been in a weakened financial position. No real answer, obviously, just wondering (might be travel-tripping....)

* Doubt that GRMN can compete on resources with NOK. Unsurprising that the NVT acquirer had greater resources than GRMN, which I believe I said in an earlier post.

* This too shall pass. Don't count GRMN management out yet.

* Sleep is good. I think I'm hallucinating that everyone I know on the message boards now has a TMF in front of their names....

Jim
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