Holland & Knight LLP Represents NAVTEQ in its $8.1 Billion Acquisition by Nokia
October 1, 2007
Jocelyn West Brittin- Northern Virginia
William Mutryn- Northern Virginia
The Transaction is One of the Largest in Holland & Knight's History
WASHINGTON, D.C. – Holland & Knight LLP announces the representation of its client NAVTEQ in the acquisition of NAVTEQ by Nokia.
Nokia and NAVTEQ today announced a definitive agreement for Nokia to acquire NAVTEQ. Under the terms of the agreement, Nokia will pay $78 in cash for each share of NAVTEQ including outstanding options for an aggregate purchase price of approximately $8.1 billion (€5.7 billion), or approximately $7.7 billion (€5.4 billion) net of NAVTEQ's existing cash balance. The acquisition has been approved by the board of directors of each company and is subject to customary closing conditions including regulatory approvals and NAVTEQ shareholders' approval.
The Holland & Knight transaction team was led by Tom Hanley, a partner in the firm's Washington, D.C., office. The Holland & Knight team included Northern Virginia-based partners Bill Mutryn and Jocelyn Brittin and Washington, D.C.-based associates Irene Barberena and Grace Brown.
Hanley, who has recently joined the firm's Corporate & Securities Group, advises public and private companies on corporate and securities law issues surrounding corporate finance transactions and mergers and acquisitions, including public securities offerings, private placements, exchange/tender offers, asset and stock purchases, statutory mergers, venture capital financings, and other commercial transactions. He has represented NAVTEQ in a variety of transactions, including its $1 billion-plus IPO and secondary offerings and, most recently, its 2007 acquisition of Traffic.com.
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