Business Services Industry
Cruise Line Merger May Face Competition from Miami-Based Carnival.
Knight Ridder/Tribune Business News, December, 2001
Daily Mail, London Knight Ridder/Tribune Business News
Dec. 17--Miami-based Carnival Corporation is believed to be ready to mount a UKpound 2.5 billion counterbid for P&O Princess, scuppering the latter's cosy UKpound 4 billion merger with Royal Caribbean.
Carnival, the world's largest and most profitable cruise company, would lose its top slot to a combined P&O Princess and Royal if their deal goes ahead.
It could be six months before the merger gets the green light from US regulators, giving Carnival chief executive Micky Arison time to decide whether to make a rival bid. Analysts have said from the outset that the "friendly" deal was liable to be sunk.
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