Carnival delight at P&O Princess vote delay
Carnival chairman and chief executive Micky Arison has said he is “delighted’ at the decision by
P&O Princess shareholders to postpone a vote on whether to merge with Royal Caribbean.
At last Thursday’s Extraordinary General Meeting a significant number of P&O Princess shareholders decided they needed more time to consider the rival Carnival bid. Over 253 million votes (253,019,846) were cast in favour of an adjournment, compared to 151,781,075 against.
Mr Arison said: “We are committed to giving P&O Princess shareholders the opportunity to accept our increased offer and we will focus all our efforts on securing regulatory clearance.”
He added:”We would like to thank the P&O Princess shareholders for their support throughout this process, and look forward to welcoming them as shareholders of the enlarged Carnival group in the future.”
P&O Princess bosses believe that a tie-up with Royal Caribbean is more likely to receive regulatory clearance than a deal with Carnival. The cruise company is now expected to hear what the competition authorities have to say on the proposed mergers before calling another shareholder vote.
See our previous stories:
12 Feb 2002: Carnival piles pressure on P&O Princess
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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