Business Services Industry
Carnival's Bid for Norwegian Cruise Lines Looks Increasingly Attractive.
Knight Ridder/Tribune Business News, December, 1999 by The Miami Herald
Knight Ridder/Tribune Business News
Dec. 7 -- Put yourself in Norwegian Cruise Lines' shoes.
After years of stumbling around with an aging fleet, mounting debt, and spotty corporate leadership, the cruise company's fortunes finally have turned up.
Revenue is growing at a 30 percent annual pace. New equity has allowed the company to add capacity by revitalizing some older ships -- it literally had them "stretched" to add more berths. And last month, the company debuted the Norwegian Sky, its first new ship in years.
Now, along comes Carnival Corp., dangling an unsolicited $1.7 billion tender offer last Wednesday.
If you consider what Carnival has put on the table, as NCL Holdings has, it's no surprise that Norwegian Cruise...
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