Ofer beats Arison: Princess Cruises opts for merger with Ofer brothers' Royal Caribbean

Rejects $4.6 billion purchase offer from Arisons' Carnival
Author:
Publish date:

The Ofer brothers can declare victory in their struggle with the Arison family to acquire the luxury cruise operator P&O Princess Cruises.

P&O Princess Cruises, the world's third biggest cruise operator, rejected the $4.6 billion purchase offer made by the Arison family's Carnival Cruise Lines and opted to merge with the Ofer brothers' Royal Caribbean Cruises, on the grounds it was "the best alternative at this time."

In spite of P&O's decision, Carnival has not given up. Carnival Cruise Lines vice chairman Howard Frank announced Carnival would appeal to P&O Princess Cruises shareholders directly in efforts to persuade them to sell to the Arisons.