Royal Caribbean Gaining on Princess Cruise Merger

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Shares of

Royal Caribbean

(RCL) - Get Report

were gaining in the premarket session after the company agreed to a merger with

Princess Cruise Lines


The stock merger values Royal Caribbean's shares at a slight premium to their current price and investors were said to be anticipating large cost benefits. Royal Caribbean's shareholders will end up with a slight minority of shares in the combined company.

On Instinet, Royal Caribbean was trading up $2.74, or 18%, to $17.75.