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Miami-Based Cruise Line Hopes for Independence on Rise of Parent's Shares.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, January, 2000 by Corzo, Cynthia
Jan. 13--Raising hopes of independence at Norwegian Cruise Lines, shares of its parent NCL Holding on Wednesday rose above the 35 kroner offer from Star Cruises on speculation that the Asian cruise company may have to raise its bid to gain control of NCL.
Shares of NCL, the Oslo owner of Miami's Norwegian Cruise Lines, rose 1.9 kroner -- roughly 5.4 percent -- to 37 on the Oslo Stock Exchange.
Star Cruises, the Malaysian company that last month quietly gained control of NCL, may have to raise its bid because it no longer has a majority of NCL shares. After NCL executives exercised year-end options and some loans were converted to stock, Star's stake fell to less than 50 percent from 50.2 percent.
"We believe the company is worth much more...
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