Carnival Ups Bid. (Week in Review - Cruises).(Carnival Corp. increases bid for P and O Princess Cruises buyout)(Brief Article)(Statistical Data Included)

Travel Agent, January, 2002

Carnival Corp. at press time increased its buyout proposal for P&O Princess Cruises, offering 500 pence per share (250 pence in cash and 0.1380 Carnival Corp. shares) for every Princess share. That puts the total value of the deal at 3.5 billion pounds or roughly $5 billion, a 12 percent increase from Carnival's previous offer.

Dean Gianoukos, a JPM Securities analyst, expects a better bid from RCCL or a potentially higher bid from Carnival.