Indian Hotels expects Orient-Express to respond to bid in 3 wks
MUMBAI Oct 19 (Reuters) - Indian Hotels Co Ltd expects to get a response from Orient-Express Hotels Ltd on its takeover bid within the next three weeks, a company executive said on Friday.
"We are expecting the board to get back to us as soon as they are okay with it," said R. K. Krishna Kumar, vice chairman, Indian Hotels. "Three weeks is an estimate. We are hoping we would get a response by then."
Indian Hotels, controlled by the Tata Group conglomerate, made an unsolicited $1.2 billion bid for luxury hotels group Orient-Express on Oct. 18, five years after its first offer to buy the company was rebuffed.