Carnival calls in Herbert Smith for hostile P&O bid

P&O Herbert Smith has been called in by Carnival – the world’s biggest cruise operator – to advise on its hostile bid for P&O Princess Cruises.

The move follows Carnival’s £3.2bn bid for P&O, which was rejected at the weekend. Carnival’s bid threatens to scupper an agreed merger between P&O Princess and Royal Caribbean that would value the combined company at £4.8 bn.

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