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Article: Royal Caribbean Cruises Ltd. ('Royal Caribbean'); Royal Caribbean Acknowledges P&O Decision On Merger.
- Article from:
- PR Newswire
- Article date:
- October 25, 2002
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Copyright informationCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Royal Caribbean Cruises Ltd. today noted the decision announced earlier by the Board of P&O Princess Cruises, withdrawing its recommendation of the merger agreed between the two companies in November 2001.
Richard Fain, chairman and chief executive of Royal Caribbean, said: "Clearly, we regret that the Board of P & O Princess is taking this action. We remain today as convinced as ever that the pairing of our two companies would be a great partnership and a great business. Ultimately, it is the shareholders of P & O Princess who must decide what is best for their company."
As stipulated under the terms of the merger, the implementation agreement of November 2001 has ...