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Indian Hotels says reviewing options for Orient-Express bid

Source : REUTERS
Last Updated: Mon, Feb 11, 2013 13:40 hrs

MUMBAI, Feb 11 (Reuters) - Indian Hotels Co Ltd, part of the diversified Tata Group, reported a 28 percent rise in quarterly net profit beating estimates and said it was reviewing its options after Orient-Express Hotels rejected its takeover bid.

The company, which owns and operates the chain of Taj hotels and resorts worldwide, made an unsolicited $1.2 billion bid for U.S.-listed, luxury hotels group Orient-Express in October.

On Nov. 8, 2012 , Orient-Express rejected a $1.2 billion takeover offer from Indian Hotels, saying it was too cheap.

The company said net profit rose to 646.2 million rupees ($12.07 million) for October-December, up from 504.8 million rupees a year earlier.




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