Marathon Acquisition to purchase Global Ship Lease in deal valued at $1B

        BOSTON (Thomson Financial) - Marathon Acquisition Corp. and Global Ship
Lease Inc. said Monday that Global Ship will access the public equity markets
through a merger with Marathon valued at about $1 billion.
    After completion of the merger, Global Ship said it intends to raise its
annual dividend payout to 76 cents from 72 cents a share. 
    Global Ship Lease is a containership charter owner and currently a
subsidiary of CMA CGM S.A. of France, the world's largest container shipping
company. 
    Following stockholder and warrantholder approval of the merger, Marathon's
stockholders will own about 66% of Global Ship Lease and CMA CGM will own about
34%. 
    Shares of Marathon Acquisition, a New York-based diversified investments
company, closed Thursday at $7.87. 
Greg Saulnier
gs/jw

COPYRIGHT

Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.