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Orient-Express likely to spurn $1.9bn Tata offer

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Published on 30/10/12 - Updated on 17/03/22

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The board of Orient-Express Hotels seems likely to reject the $1.9-billion takeover offer made by the Tatas, following reports their offer was undervalued and Orient Express share price was falling below the offer price.

The board is expected to meet by Thursday to take a call on the offer made by Indian Hotels, operators of the Taj group of hotels.While shares of Orient-Express had their biggest gain in more than three years on the Tata offer, the stock is languishing almost nine per cent below the offer, evidence that traders who bet on mergers and acquisitions see the company’s board rejecting the bid.

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