P&O Princess Declines Carnival Offer
August 1, 2002
Princess’ Peter Ratcliffe responded to Arison’s multi-page letter with extraordinary brevity, declining to meet. "We are mindful of the rights and obligations of Royal Caribbean and P&O Princess under our agreement, and of the interests of P&O Princess' shareholders. Under the terms of our agreement with Royal Caribbean, we are not in a position to meet with you."