February 13, 2002
While no verdict will be official until tomorrow -- P&O Princess'
long-scheduled shareholders meeting to vote on the merger with Royal
Caribbean -- the tide may be turning for spoiler Carnival Corp. According
to a London-based Associated Press writer, "P&O Princess faces a possible
mutiny Thursday when it asks shareholders to approve a friendly merger that
would create a new world leader in the cruise ship business."
Industry analysts are also saying they anticipate shareholders will vote to
postpone the vote -- for Royal Caribbean. Such a delay, may, according to
the folks at Royal Caribbean, completely derail the merger effort. Carnival
is seeking a delay to give it time to woo P&O Princess shareholders onto its
In the meantime, no deal is official without regulatory approvals, hurdles
of which can only be jumped after an agreement is approved by shareholders.
Stay tuned; we'll provide updates tomorrow.