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Indian Hotels says reviewing options for Orient-Express bid
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An inside view of the 'Exclusive suite' of the heritage wing of the Taj Palace Hotel in Mumbai August 11, 2010.
Credit: Reuters/Danish Siddiqui/Files
MUMBAI |
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)
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