I was wondering how long this would take!
Carnival Said Set to Make P&O Princess Bid
LONDON (Reuters) - Carnival Corp (NYSE:CCL - news) is poised to launch a
$3.63 billion counterbid for P&O Princess (POC.L), which in November agreed
to merge with Royal Caribbean Cruises Ltd (NYSE:RCL - news), the Sunday
Telegraph reported in Sunday editions.
Miami-based Carnival, the world's biggest cruise group, has appointed
investment bank UBS Warburg to prepare a counterbid which could come before
the end of the year, the paper said.
Carnival is due to report fourth-quarter figures on Thursday and the paper
said the company could be pressed by investors and analysts to clarify its
London-based P&O Princess, which will take a place in the FTSE 100 index of
top British shares later in December, last month announced a tie up with
Royal Caribbean of Miami, Florida.
Under the deal no shares or cash will change hands and Royal Caribbean and
P&O Princess will retain their separate stock market listings. The combined
entity will be headquartered in Miami, and will be led by Royal Caribbean
Chief Executive Richard Fain.