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Indian Hotels says reviewing options for Orient-Express bid
February 11, 2013 / 1:43 PM / 5 years ago

Indian Hotels says reviewing options for Orient-Express bid

An inside view of the 'Exclusive suite' of the heritage wing of the Taj Palace Hotel in Mumbai August 11, 2010. REUTERS/Danish Siddiqui/Files

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 HotelsOEH.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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