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Carnival piles pressure on P&O Princess
Carnival claims that over a quarter of P&O Princess shareholders have confirmed that they want extra time to consider the company’s merger options.
According to Carnival, the holders of 29% of P&O shares have indicated that they will vote for an adjournment at Thursday’s extraordinary general meeting so they can have more time to consider the improved bid from Carnival. Shareholders are due to vote on P&O’s proposed tie-up with Royal Caribbean Cruises at the meeting.
Carnival chairman and chief executive Micky Arison said: “We are delighted with the growing level of support for an adjournment. We urge all P&O Princess shareholders to vote to adjourn the meeting, or, in the event the meeting is not adjourned, to vote against the Royal Caribbean proposal.”
It follows Carnival’s decision to increase its bid to £3.8billion. However P&O continues to stress that it believes a tie-up with Royal Caribbean would be more likely to gain regulatory clearance than a merger with Carnival, which is the world’s largest cruise operator.
See our previous stories:
25 Jan 2002: Carnival gets personal in P&O Princess fight
22 Jan 2002: P&O Princess rejects improved Carnival offer
18 Jan 2002: Carnival increases bid for P&O Princess
15 Jan 2002: Carnival refuses to give up fight for P&O Princess
17 Dec 2001: P&O Princess rejects Carnival offer
20 Nov 2001: P&O Princess and Royal Caribbean Cruises to merge
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