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Sunday, December 4, 2016

Royal Caribbean Welcomes Merger Clearance from FTC

October 7, 2002

Royal Caribbean Cruises Ltd. (RCL) welcomes the decision by the Federal Trade Commission not to object on anti-trust grounds to its plans to merge with P&O Princess Cruises, while noting with regret that the Commission had reached the same decision in respect of the hostile bid for P&O Princess by Carnival Corporation (CCL). Royal Caribbean also noted the statement by P&O Princess's Board in the wake of the FTC's announcement, including the Board's re-affirmation that it continues to recommend to its shareholders that they should approve the proposed DLC merger with Royal Caribbean. Richard Fain, chairman and chief executive of Royal Caribbean, said: "We have no doubt that our agreed merger represents a compelling opportunity to create significant value for both P&O Princess shareholders and Royal Caribbean shareholders. Our merger plan offers both our shareholders the best deal for the future."


 
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