UK: Trafficmaster in takeover talks with undisclosed company

Trafficmaster (traffic info provider to many vehicle manufacturers in the UK) has issued a statement confirming that it is in takeover talks with an undisclosed company:

“Trafficmaster (the ‘Company’) notes the recent movement in its share price and press speculation and can confirm that it is in discussions which may or may not lead to an offer being made for the entire issued share capital of the Company. There is no certainty that any offer will be forthcoming. A further announcement will be made in due course.”

Quoting a London broker, the Financial Times wrote that Trimble Navigation and Ituran Location are possible buyers and could pay a substantial premium.

Source: Trafficmaster, GPS Business News.

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