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Delay to cruise ship merger leaves advisors' fees out of reach

A decision by shareholders in P&O Princess Cruises to adjourn indefinitely a vote on their company's merger with Royal Caribbean Cruises has delayed payment of $20m (€22m) of a bill for advisory fees that is already up to $65m and counting.

At a meeting on February 14, Princess shareholders voted to delay the vote on the merger with Caribbean, effectively to allow them more time to consider Carnival's £3.8bn (€6.2bn) hostile bid for Princess.

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