Freshfields Bruckhaus Deringer and Herbert Smith are on the verge of securing a successful completion to the epic merger talks between P&O Princess Cruises and Carnival Corporation – creating the first ever company to be dual-listed in London and New York.

The long-trailed tie-up of P&O and Carnival – advised by Freshfields and Herbert Smith respectively – is also the first time an announced offer for a company has been converted into a dual-listed entity.