Sea Containers Ltd

Bid Made for Sea Containers: Sweden's Stena Holding AG and Britain's Tiphook PLC announced a joint bid of $824 million for Bermuda-based Sea Containers Ltd., a diversified ocean shipping company that operates the leading ferry service across the English Channel. Stena announced March 13 that it owned 8.2% of Sea Containers' common stock and has since been rumored to be preparing a bid. Sea Containers' stock now has risen more than 50% from its price of $36.125 before Stena's March announcement.

Temple Holdings Ltd. said today that it has sweetened for a second time its hostile offer for Sea Containers Ltd., by about $20 million to $1.04 billion. Temple, which began its takeover bid last spring, increased a previously raised cash offer in August for Sea Containers' common stock to $70 a share from $63 a share, and for each of its convertible preferred stock to $112.70 from $101.43. A Temple spokesman said the new bid, which was extended to Dec. 22 from Dec.

The Orient Express rode into the New York Stock Exchange on Thursday: Orient-Express Hotels Ltd., owner of the fabled train and luxury hotels around the world, rose 4% in its NYSE trading debut after raising a less-than-expected $190 million in its initial public offering. The stock (OEH) gained 75 cents to $19.75 in first-day trading of 5.5 million shares.

The Copacabana Palace Hotel, a Rio landmark that once hosted European royalty and Hollywood movie stars but fell on hard times, has been taken over by the American businessman who restored Europe's Orient Express train. "The Copa," on Rio's famous Copacabana Beach on the South Atlantic coast, has been declining for more than 20 years. But James Sherwood has pledged to restore the hotel's glory.

Long Beach has received 13 proposals to buy the Queen Mary--including one that would return the ship to its original port in England--and five other offers to run the city-owned tourist attraction where it is moored, officials said Tuesday. At least eight of the proposals would move the ship to other countries, including Japan and Canada, said Steven Dillenbeck, director of the city's Harbor Department, which has jurisdiction over the Queen Mary.

The government's report of a slightly smaller-than-expected U.S. trade deficit for January provided the impetus for a moderate advance in the stock market Wednesday. The Dow Jones index of 30 industrials gained 14.29 to 2,320.54. Advancing issues outnumbered declines by about 4 to 3 in nationwide trading of New York Stock Exchange-listed issues. Big Board volume came to 167.07 million shares, up from 139.97 million Tuesday.

The stock market showed some scattered losses in a quiet session Friday, beset by continuing worries about the outlook for corporate earnings. The Dow Jones average of 30 industrials dropped 3.65 to 1,793.17, trimming its gain for the week to 18.99 points. Volume on the New York Stock Exchange slowed to 105.05 million shares from 153.39 million Thursday.

The stock market closed higher with help from a stronger bond market Friday in light pre-holiday trading, overcoming profit taking that has dogged the market since the Dow Jones industrial index hit 2,500 earlier in the week. Activity tapered off through the session as many traders got an early start on the long Memorial Day weekend. The markets will be closed on Monday. The Dow industrial index rose 11.18 to 2,493.77, cutting its loss for the week to 7.33 points. Advancing issues outnumbered declines by about 5 to 2 in nationwide trading of New York Stock Exchange-listed stocks.