The board continues to believe that the price offered by Carnival does not fairly reward shareholders for the value that would be created by Carnival and its shareholders from the integration of P&O Princess into Carnival.
"Princess Cruises" is a United Kingdom/British-United States/American owned cruise line, based in Santa Clarita, California/Santa Clarita, California in the United States and incorporated in Bermuda. Previously a subsidiary of P&O Princess Cruises, the company is now one of ten cruise ship brands owned by Carnival Corporation & plc and accounts for approximately 19% share of its revenue. Being based in America, executive control of Princess Cruises was transferred to Carnival Corp following its acquisition of P&O Princess in 2002. The company was made famous by The Love Boat TV series, in which its ship, Pacific (ship)/Pacific Princess was featured. In May 2013, the brand new Royal Princess (2013)/Royal Princess became the flagship of Princess Cruises, and in May 2014 was joined by her new sister-ship Regal Princess (2014)/Regal Princess.
More Princess Cruises on Wikipedia.If you were to go back 20 years ago, the ships were trans-Atlantic liners, and people thought they'd be bored or confined on the ship.
That the Carnival proposal is not as favorable financially to P&O Princess shareholders and would face greater execution risk than the transaction with Royal Caribbean.
This is the first time such a tragedy has occurred during the history of our company, and we are devastated by this incident. Our heartfelt thoughts and prayers are with those affected by the fire.
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