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Article: Tiphook and Stena announce commencement of $824 million cash tender offer for all common and preferred shares of Sea Containers.
- Article from:
- PR Newswire
- Article date:
- May 26, 1989
CopyrightCOPYRIGHT 1989 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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TIPHOOK AND STENA ANNOUNCE COMMENCEMENT OF $824 MILLION CASH TENDER
OFFER FOR ALL COMMON AND PREFERRED SHARES OF SEA CONTAINERS
NEW YORK, May 26 /PRNewswire/ -- Tiphook plc and Stena Holding AG announced that their jointly owned subsidiary, Temple Holdings Ltd., is commencing today an all-cash tender offer for all outstanding common shares of Sea Containers Ltd. (NYSE: SCR) at $50 per share, net to the seller in cash, as well as cash tender offers for all classes of preferred shares for a total price of approximately $824 million. The offer would be followed by a redemption of any remaining preferred shares and an amalgamation or other business ...