Carnival To Allow NCL Bid To Expire

Thursday, December 16, 1999

Carnival Corp. plans to allow its tender to buy Norwegian line NCL Holding to expire on the December 22 deadline without making any adjustments. Carnival had bid 30 crowns per share for NCL, which had consistently rejected the bid as too low. Earlier on Thursday, Star Cruises Plc said that it had bought 39.3 percent of NCL, just below the 40 percent limit before a formal takeover bid would have to be launched under Norwegian law.

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