Reuters: Mobile navigation device company Garmin is the mystery bidder behind a takeover approach for Raymarine, the Sunday Telegraph reported, citing sources close to the deal.
Garmin’s approach could be worth as much as 250 million euro, it said.
Raymarine, which makes navigation equipment for the marine market, said last month it had received an approach from an unnamed party, sending its shares rocketing.
The UK company makes a range of nautical devices including satellite navigation for boats, autopilots, satellite radio and radar systems. It is seen as an attractive target for larger players as the market for satellite and mobile navigational devices consolidates.