Indian Hotels says reviewing options for Orient-Express bid
MUMBAI (Reuters) - Indian Hotels Co Ltd(IHTL.NS), 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(OEH.N) 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 November 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 for October-December, up from 504.8 million rupees a year earlier.
(Reporting by Aradhana Aravindan & Kaustubh Kulkarni; Editing by Anand Basu)
- Tweet this
- Share this
- Digg this
- Malaysia Airlines plane missing at sea off Vietnam, presumed crashed
- UPDATE 3-U.S. FDA probes cognitive impact of new cholesterol drugs
- CORRECTED-UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- Fresh confrontations raise tempers on ground in Crimea
- Malaysian plane with 239 aboard crashes - report
PLANE GOES MISSING
A Malaysia Airlines flight carrying 227 passengers and 12 crew went missing over the South China Sea on Saturday, presumed crashed, as ships and planes from countries closest to its flight path scoured a large search area for any wreckage. Full Article