Cruise Talk: Carnival bids for Norwegian Cruise

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Topic: Carnival bids for Norwegian Cruise

fluctuant nec mergitur
First Class Passenger
Member # 577

posted 12-01-1999 09:10 PM

NEW YORK, Dec 1 — Carnival Corp., the world’s biggest cruise operator, on Wednesday announced a surprise $1.7 billion cash takeover offer for NCL Holding ASA, the corporate parent of Norwegian Cruise Line.

MIAMI-BASED CARNIVAL said it would offer 30 Norwegian crowns per share for NCL, representing about a 40 percent premium over the company’s 30-day average closing share price.
NCL, also based in Miami, is the the world’s fourth-largest cruise ship operator. Its shares closed Wednesday at 24.90 crowns on the Oslo bourse.
NCL shares soared in the final minutes of trading on the New York Stock Exchange, gaining 3-5/16, or nearly 30 percent, to 14-1/2.
In a brief statement, Carnival said it would commence a cash tender offer for NCL shares. It said the proposed acquisition would build on its ties to Norway.
Carnival, whose cruise lines include Cunard and Holland America, said it would maintain the NCL name and keep its operations autonomous.

Posts: 42 | Registered: May 99 | IP: Logged

fluctuant nec mergitur
First Class Passenger
Member # 577

posted 12-01-1999 09:15 PM

Jake14,
I guess great minds think alike

fluctuant nec mergitur

Posts: 42 | Registered: May 99 | IP: Logged

jake14
First Class Passenger
Member # 602

posted 12-01-1999 09:26 PM

i like yours better because you sumed everything up and ever put a nice picture

[This message has been edited by jake14 (edited 12-01-1999).]

Posts: 136 | From: susanville ca us | Registered: May 99 | IP: Logged

DAMBROSI
First Class Passenger
Member # 100

posted 12-01-1999 11:21 PM

It's just sick, how much does Carnival want? I'm sick of hearing
how Carnival wants it all. They ruin
the industry that's for sure.

Posts: 2554 | From: Florida, USA, Where the Legend SS NORWAY sailed from. Moving back to FL next yr. | Registered: May 99 | IP: Logged

sympatico
First Class Passenger
Member # 797

posted 12-02-1999 08:34 AM

DAMBROSI - back in '88 as we were going through US customs in Ft. Lauderdale on our way to the Westerdam the customs man told us that Carnival had bought HAL. We thought oh, no that's not true. Well it was and we also were very upset and sick about it. For a while you could really see the Carnival influence creeping in,(especially when Joe Farkas was allowed to decorate 2 of the rooms on the Statendam, which subsequently had to be redone) but things have settled down now. HAL was privately owned and could not have lasted - they just did not have the money to keep going. As much as I dislike Carnival without their money HAL could not have built all thoses wonderful ships and I understand there are more coming. I know Carnival just keeps eating up all the nice smaller cruise lines but to keep in business I guess this has to be done. Let's hope they don't make too many changes with NCL.

[This message has been edited by sympatico (edited 12-02-1999).]

Posts: 3305 | From: Toronto, Ont. Canada | Registered: Jul 99 | IP: Logged

cruiseman
First Class Passenger
Member # 885

posted 12-02-1999 02:41 PM

I really don't understand all the complaining about Carnival. I've been on 10 cruises aboard Carnival, Royal Caribbean, Norweigan and Princess.

Royal Caribbean's Splendour of the Seas was probably the best ship as far as decor with elegance...but the entertainment stunk!

Norweigan's Dreamward immediately prior to her stretch was disheartening when boarding the ship and seeing how badly she needed the overhall. Worn and torn carpets and fabrics everywhere, poor dining room service but GREAT entertainment and the best midnight deck party I've ever seen.

Sailing last year aboard the Grand Princess I will admit to having the BEST service I've ever encountered but again entertainment was lacking.

What about the food? In my opinion their all about the same. Sure RCL and Princess has more seafood selections but I also believe you get what you pay for.

Carnival is a moderately priced cruise line and keeps prices competitive for all wanting to cruise. I'm boarding the Triumph this weekend and am paying virtually the same price that I did back in 1990! I believe Carnival offers a great value at a great price and thanks to Carnival the industry has grown by leaps and bounds with alot of new ships. Decor is a very personnal matter. Not everyone likes Victorian...not everyone likes Vegas...but if you do ANY kind of research like looking at the brochures you should have some indication of what you're in for! I've enjoyed the elegance of the Grand and I'm looking forward to the excitement of the Triumph!

A vacation overall is what you make of it. Get over bashing Carnival! They're a great cruise line that affords the "Average" person to take a vacation that for some is a once in a lifetime experience. For others like myself I'm addicted and love the opportunity to be at sea for a week or more.

For myself I like big ships. The crowds don't bother me and I expect with 3000+ passengers I may have to wait in line for a buffet....THAT's TO BE EXPECTED! I have no desire to go on an old classic liner or a small intimate ship. And I'll say it again...DIFFERENT STROKES FOR DIFFERENT FOLKS! If everybody liked the same thing it would be a pretty BORING world!

Posts: 59 | From: Leavenworth, KS, USA | Registered: Oct 1999 | IP: Logged

Patrick
First Class Passenger
Member # 364

posted 12-02-1999 02:43 PM

Hopefully not !!!
Carnival is big enough. I think NCL would fit much better to RCI.
But this won´t be the last joint-venture...

Posts: 1680 | From: OSC Luxembourg | Registered: Nov 98 | IP: Logged

Barryboat
First Class Passenger
Member # 33

posted 12-02-1999 11:12 PM

I'm sorry to say this, but NCL needs all the help they can get as far as improving their cruise product. Perhaps now there will be some stable and consistent leadership at NCL. NCL is always trying to reinvent themselves.

Posts: 1851 | From: Bloomington, Minnesota (Home to the Mall of America) | Registered: Mar 99 | IP: Logged

Joe at PwC
First Class Passenger
Member # 225

posted 12-03-1999 12:10 PM

Ah, yes....Carnival, the Microsoft of the cruise industry (at least, that's how it looks at this point).

Posts: 385 | Registered: A Long Time Ago! | IP: Logged

asoowal
First Class Passenger
Member # 485

posted 12-04-1999 10:05 PM

I thought that P & O acquiring NCL would be a good match. Carnival would probably upscale NCL to fit between Carnival and HAL. Could be a good fit. Costa just doesn't have the US name and recognition as yet.

Posts: 68 | From: Plymouth Meeting, PA, USA | Registered: Feb 99 | IP: Logged

Patrick
First Class Passenger
Member # 364

posted 12-05-1999 12:01 PM

It is very good that Costa doesn´t have an American name and recognition yet (nothing against Americans, but I still think the European market is still too different). At least like this the line keeps a little bit the Italian flair like it was known for even if the overtaking by Carnival did not do any good to the lines former, real familiar and warm ambiance. Costa was a good line when still owning ships like the EUGENIO COSTA, ENRICO COSTA, DAPHNE, DANAE, CARLA COSTA... and so on. But since all the newbuildings are there the atmosphere onboard their ships became rather inpersonal. And if I think about that they will lengthen the COSTA CLASSICA and the COSTA ROMANTICA, also these ships will definitely tend to the mass market. This will do no good to this line and also for NCL it looks like that it will go the same way.
Hopefully not !

Posts: 1680 | From: OSC Luxembourg | Registered: Nov 98 | IP: Logged

Jeff Stern
Just Boarded
Member # 944

posted 12-06-1999 04:40 PM

My wife and I are about to sail on the Carnival Triumph, our 50th cruise! While we are not big Carnival fans, we do enjoy them on an occasional basis. Coincidentally, NCL is our favorite line... We have found that the ships, food and entertainment are always good on NCL. Individual items may be better on other lines, but NCL is our favorite "all-around." If Carnival is successful in its bid to take over NCL, we can hope that any changes will be minor. As with Holland America, Cunard, etc; Carnival has stated that they will keep the NCL operation, if acquired, separate and unchanged. This would be fine, since NCL has a good product and has stayed away from the mega-ships. They offer a more traditional cruise at a budget-moderate price.

Posts: 1 | From: Maimi, Florida, USA | Registered: Dec 1999 | IP: Logged

tside
Just Boarded
Member # 985

posted 01-04-2000 06:07 PM

NCL definately needs to be purchased by someone. Their inital public offering was good, but the reality is that they cannot stay alive in the cruise industry being as small of a cruise line as they are. I'm sure that Carnival will not touch this line, as it has done with its other aquisitions, but CCL will give NCL the money it needs to stay afloat and grow. The way it looks is that this is a win-win situation for both companies. NCL gets the money it needs to grow and CCL gets the additional ships that NCL has on order.

Posts: 1 | From: Milwaukee,WI USA | Registered: Jan 2000 | IP: Logged

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