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Article: Carnival Corporation Makes Offer for Celebrity Cruise Lines
- Article from:
- PR Newswire
- Article date:
- June 25, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MIAMI, June 25 /PRNewswire/ -- Carnival Corporation (NYSE: CCL) confirmed today that it had sent a proposal to the two stockholders of Celebrity Cruise Lines Inc. (the Chandris Group and Overseas Shipholding Group, Inc.) indicating its willingness to purchase Celebrity for $525 million, subject to board approval and successful completion of due diligence. At the option of Celebrity, the purchase price may be paid in cash or a combination of cash and Carnival Class A Common Stock (in the same proportion as the announced transaction with Royal Caribbean). Carnival indicated it may consider increasing the purchase price if it can identify additional value in Celebrity. ...
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