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December 18, 1999 | Associated Press
Asia's leading cruise line, Star Cruises, launched a surprise $1.1-billion bid for the rest of Norwegian Cruise Line, a day after industry leader Carnival Corp. gave up on its buyout offer. Star bought a nearly 40% stake in NCL this week in what was seen as a friendly attempt to block an unsolicited takeover effort by Miami-based Carnival. Carnival said it will allow its $1.7-billion offer for NCL Holdings' Norwegian line to expire next week.
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BUSINESS
December 18, 1999 | Associated Press
Asia's leading cruise line, Star Cruises, launched a surprise $1.1-billion bid for the rest of Norwegian Cruise Line, a day after industry leader Carnival Corp. gave up on its buyout offer. Star bought a nearly 40% stake in NCL this week in what was seen as a friendly attempt to block an unsolicited takeover effort by Miami-based Carnival. Carnival said it will allow its $1.7-billion offer for NCL Holdings' Norwegian line to expire next week.
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November 4, 2001 | SHIRLEY SLATER and HARRY BASCH
The cruise industry is struggling as a result of decreased demand for travel after the Sept. 11 terrorist attacks. American Classic Voyages, with seven ships, and Renaissance Cruises, with 10 ships, have filed for Chapter 11 reorganization. Several cruise ships, including Silversea's Silver Wind and Radisson Seven Seas' Song of Flower, are being taken out of service for the winter season. And many more ships are being redeployed in waters closer to the United States and adopting new itineraries.
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