Bid Made for Sea Containers: Sweden’s Stena...

Bid Made for Sea Containers: Sweden’s Stena Holding AG and Britain’s Tiphook PLC announced a joint bid of $824 million for Bermuda-based Sea Containers Ltd., a diversified ocean shipping company that operates the leading ferry service across the English Channel. Stena announced March 13 that it owned 8.2% of Sea Containers’ common stock and has since been rumored to be preparing a bid. Sea Containers’ stock now has risen more than 50% from its price of $36.125 before Stena’s March announcement. Sea Containers is considered to be attractive because of its British real estate and ferry operation.