Nokia acquires Navteq for $78 per share

By Lisa Kerner

Charlotte, N.C., July 10 - Nokia Corp. completed its acquisition of Navteq Corp. in a transaction valued at $8.1 billion.

Navteq shareholders will receive $78 in cash per share without interest and less any applicable withholding taxes, a company news release said.

According to Navteq, its common stock will cease trading on the New York Stock Exchange prior to the start of trading on July 10 and will no longer be listed on the NYSE.

Chicago-based Navteq provides digital map information for automotive navigation systems, mobile navigation devices, internet-based mapping applications and government and business solutions. Navteq also owns Traffic.com.

Nokia manufactures mobile devices and mobile networks. The company is based in Espoo, Finland.

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