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IPO duo go head-to-head on sat nav takeover

Goldman Sachs and Lehman Brothers have emerged on opposite sides of Dutch satellite navigation systems manufacturer TomTom's acquisition of rival Tele Atlas, after the banks worked together on the stock market listings of both companies.

Goldman Sachs and Lehman Brothers were the bookrunners on each of the companies' flotations, but are on opposing sides in the merger, with Goldman advising TomTom and Lehman working for Tele Atlas.

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