Excel Maritime To Buy Quintana

January 29, 2008 5:37 PM |

Excel Maritime Carriers Ltd. (NYSE: EXM) offered $2.45 billion in cash and stock to buy Quintana Maritime Ltd. (Nasdaq: QMAR) and form a combined fleet of 55 vessels.  Shares of Excel Maritime dropped $1.22 to close at $31.78 while Quintana stock leaped $5.13 to close at $22.02.

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