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Article: Carnival Corporation Announces Pre-Conditional Offer for P&O Princess Cruises PLC.
- Article from:
- PR Newswire
- Article date:
- December 17, 2001
CopyrightCOPYRIGHT 2001 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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LONDON -- Carnival Corporation today announced the terms of a pre-conditional offer to acquire all of the outstanding shares of P&O Princess Cruises PLC .
Under the terms of the pre-conditional offer, P&O Princess Cruises' shareholders would receive 200 pence in cash and 0.1361 Carnival shares for each P&O Princess Cruises share. Based on the New York Stock Exchange closing price of a Carnival share of $27.30 on Dec. 14, 2001, the last business day prior to the date of the announcement of the offer, the value of the offer is approximately 456 pence per share, a premium of 44 percent to the closing middle market price of 317 pence per P&O Princess Cruises share ...