CP Ships shareholders agree to TUI amalgamation
The remaining shareholders in CP Ships Wednesday agreed to the amalgamation of CP Ships and Ship Acquisition Inc., a wholly owned subsidiary of Hapag-Lloyd parent TUI AG.
TUI holds 88.97 percent of the outstanding common shares of CP Ships following its $2.3 billion takeover. The outstanding shareholders will receive the same $21.50 per share as originally offered in October.
The amalgamation is expected to be completed Dec. 20, and soon after CP Ships will be delisted from the Toronto and New York stock exchanges.