MUMBAI (Reuters) - Indian Hotels Co's board will decide whether to proceed with a bid for Orient-Express Hotels in the current fiscal year ending March, a top company executive said on Monday.
U.S.-listed Orient-Express rejected a $1.2 billion takeover offer from Indian Hotels Co in November last year, saying it was too cheap.
The company cannot leave the offer open for an indefinite period, Anil Goel, executive director finance, told a news conference.
The company earlier reported a forecast-beating 28 percent rise in quarterly net profit to 646.2 million rupees. (Read results story http://in.reuters.com/article/2013/02/11/indian-hotels-resultsq3-orient-express-idINDEE91A0A920130211)
(Reporting by Aditi Shah; Editing by Alison Birrane)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app