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BUSINESS
January 28, 2000
Carnival Corp., the world's largest cruise operator, resumed the battle for NCL Holding, offering $1.3 billion in cash for the Oslo-based owner of Norwegian Cruise Line, topping a bid from Star Cruises. The offer is conditional on Miami-based Carnival being guaranteed 50% ownership. Star has been buying up NCL shares and now controls about 50% of the company. The Carnival bid, following an offer in December that was rejected, values NCL shares at $4.90; Star has offered $4.
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BUSINESS
January 28, 2000
Carnival Corp., the world's largest cruise operator, resumed the battle for NCL Holding, offering $1.3 billion in cash for the Oslo-based owner of Norwegian Cruise Line, topping a bid from Star Cruises. The offer is conditional on Miami-based Carnival being guaranteed 50% ownership. Star has been buying up NCL shares and now controls about 50% of the company. The Carnival bid, following an offer in December that was rejected, values NCL shares at $4.90; Star has offered $4.
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BUSINESS
December 17, 1999 | Bloomberg News
Carnival Corp., the world's largest cruise operator, said it will let its $1.7-billion hostile bid for NCL Holding expire after Star Cruises bought a 39.3% stake in the owner of the Norwegian Cruise Lines, blocking Carnival's bid. A majority of Carnival's stock is now controlled by either NCL's directors or by Hong Kong-based Star Cruises, which NCL said it is in talks with about a marketing agreement.
BUSINESS
December 17, 1999 | Bloomberg News
Carnival Corp., the world's largest cruise operator, said it will let its $1.7-billion hostile bid for NCL Holding expire after Star Cruises bought a 39.3% stake in the owner of the Norwegian Cruise Lines, blocking Carnival's bid. A majority of Carnival's stock is now controlled by either NCL's directors or by Hong Kong-based Star Cruises, which NCL said it is in talks with about a marketing agreement.
TRAVEL
January 12, 1997
Just 10 companies control 87% of the cruise industry's 116,616 berths, says Travel Agent magazine. The breakdown: *--* Percent of market Carnival Corp. 26.9% Royal Caribbean Cruise Line 16.1 Princess Cruises 9.5 NCL Holding 7.6 (Norwegian Cruise Line Ltd.) Costa Cruise Lines 7.1 Celebrity Cruises 6.8 Dolphin Cruise line 3.7 Cunard Line 3.5 Bergen Line 3.1 Royal Olympic Cruises 2.7 Others 13.0 *--* Source: Travel Agent's "Cruise Marketshare Report"
BUSINESS
December 2, 1999 | From Bloomberg News and Reuters
Carnival Corp., the world's largest cruise operator, on Wednesday said it will make an unsolicited, all-cash tender offer of $1.7 billion to NCL Holding to add Norwegian Cruise Line to its fleet. Miami-based Carnival, whose lines include Carnival and Holland America, has said it's seeking acquisitions to boost its profit and revenue, as most of its ships currently sail full. On the New York Stock Exchange, NCL shares soared in the final minutes of trading, gaining $4.31 to close at $15.50.
BUSINESS
April 25, 1996 | From Times Wire Services
Carnival Corp., Royal Caribbean Cruises Ltd. and other cruise lines are the target of lawsuits alleging they inflated port fees as a way of charging passengers more than advertised fare prices. The suits, which seek class-action status, were filed Tuesday in California, Florida and Washington and seek more than $100 million in refunds, a lawyer for the plaintiffs said.
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