The world's biggest cruise line operator, Carnival Corp. of the U.S., has formally launched a hostile $4.6 billion bid for one of its primary rivals.

The move comes after P&O Princess Cruises rejected Carnival's unsolicited offer over the weekend. Princess, the world's third largest cruise operator, already has a deal arranged with Royal Caribbean Cruise Lines, the second largest cruise line.

http://money.cnn.com/2001/12/17/international/carnival/index.htm

LONDON (AP) - P&O Princess Cruises PLC changed course Wednesday and put itself up for auction, saying the move will give shareholders time to study a $4.4 billion takeover bid from Carnival Corp. it had spurned in favor of a merger with Royal Caribbean Cruises Ltd.

http://money.cnn.com/2001/12/19/deals/wires/cruiseships_ap/

Are we going to end up with one cruise line? What is going to happen to competition?

MIAMI (Reuters) - Carnival Corp, the cruise operator seeking to scuttle a merger of its main rivals, said Thursday its fiscal fourth-quarter earnings fell 40 percent as fears of terrorism have reduced leisure travel.

http://money.cnn.com/2001/12/20/companies/wires/carnival_re/

NEW YORK (CNN/Money) - Carnival Corp. made public Tuesday its request to meet with P&O Princess Cruises Plc., which was rejected.