TUI AG
On August 21, 2005, German conglomerate TUI AG offered to acquire CP Ships Limited for €1.7 billion (US$2.0 billion) in cash, and merge it with TUI's Hapag-Lloyd division. On October 19, 2005, CP Ships and TUI AG jointly announced that 89.1% of CP Ships shareholders had accepted Ship Acquisition Inc.'s August 30 offer for US$21.50 per share on October 25, 2005.