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Mergers & Acquisitions | 9 November 2012

Orient-Express Hotels Rejects Tata's Offer

by Paritosh Gajjar
Orient-Express Hotels Rejects Tata's Offer
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After a repeated attempt by Indian Hotels Limited to buyout the Orient-@Express_Hotels, the operator of luxury hotels, cruise and train services in the West, has rejected the offer stating ‘cheap’ valuation as a reason.

Tata group owned Indian Hotels had bid a 40% share premium price of $12.63 per share or a total consideration of around $1.86 Bn last month.

The bid was made in conjunction with the chairman of Ferrari, Luca Cordero di Montezemolo, who had agreed to invest $100 Mn for a minority stake in the newly combined entity.


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