ELLIOTT Investment Management has called for a change to Norwegian Cruise Line Holdings’ (NCLH) board, and a new business plan, following its acquisition of more than 10% of the company (CW yesterday). A letter from the activism fund argued NCLH is undervalued and has “substantial untapped potential”, while criticising it...
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ELLIOTT Investment Management has called for a change to Norwegian Cruise Line Holdings’ (NCLH) board, and a new business plan, following its acquisition of more than 10% of the company (CW yesterday).
A letter from the activism fund argued NCLH is undervalued and has “substantial untapped potential”, while criticising it for slipping behind its peers.
“The company has fallen from a best-in-class cruise operator at the time of its initial public offering to a clear industry laggard, suffering from inconsistent strategy, weak execution, inaccurate guidance,” Elliott said.
NCLH said it regularly meets with shareholders to discuss its strategy, and that it had not heard from Elliott before.
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