Elliott Builds Norwegian Cruise Stake, Alleges Overspending on Katy Perry Concert

Elliott Investment Management has acquired over 10% of Norwegian Cruise Line Holdings, signaling a major activist stake in the company. The investor criticized the cruise operator’s leadership, alleging poor management decisions and excessive spending on non-core activities. A Katy Perry concert was specifically cited as an example of questionable expenditures, raising concerns about financial priorities. The move suggests Elliott may push for strategic changes, including cost cuts or leadership overhauls, to improve shareholder value. This marks Elliott’s latest high-profile activist campaign, following similar interventions in other publicly traded firms.