As usual, Ben Ellison over at Panbo has the scoop:
Amazing! Garmin just announced a very public and serious offer for Raymarine. The Wall Street Journal has the 30 page (!) announcement here, but this London Stock Exchange link is easier to read. Garmin is offering 15 pence per share, which is way up from what we’ve heard recently (see comments here), and it’s waived any further due diligence. There are only two factors that could stop this deal from happening, I think: the displeasure of either Raymarine’s board or the European anti-trust regulators. And by being so public with the offer, Garmin is expressing a lot of confidence that both those parties will find the offer acceptable. Maybe it’s time to think about a marine electronics world where two of the biggest brands are one.
