Garmin's Tele Atlas Acquisition Rationale

The last question of this morning's Garmin earnings call set the record straight with a priceless answer.  "You can call it fear, you can call it strategy.  We think our planned acquisition of Tele Atlas is inline with our corporate strategy."  Following that remark, Garmin, like Nokia-NAVTEQ before them, and TomTom-TA before them, again said the same thing - "the acquisition will not impact the open market conditions of supply to those who use our map data."  If that's true, then why does Garmin feel pressured to step up and counter TomTom's bid?!

garmin.jpg