STARCruises is battling to gain enough shares in Norwegian Cruise Line to secure a takeover of the company.
It needs a shareholding of more than 50% in order to force the election of a new board of directors at an extraordinary general meeting scheduled for February 4.
Star has announced its intention to oust the present NCLboard and replace the company’s president and chief executive officer, Geir Aune, with its own candidate, former Princess Cruises senior vice-president Colin Veitch.
However, leading NCL executives including Aune and Kristian Siem have fought back by exercising share options in a bid to strengthen their personal stakes in the company.
It was unclear how many shares Star and NCL controlled respectively as Travel Weekly went to press.