Shearman Aids Indian Hotels Co. On $1.4B Bermuda Hotel Bid

Law360, New York (October 18, 2012, 6:44 PM EDT) -- Indian Hotels Co. Ltd has made an unsolicited $1.42 billion takeover offer for Bermuda-based luxury hotel owner Orient-Express Hotels Ltd., the Indian firm said in a regulatory filing Thursday.

Indian Hotels, which is controlled by Mumbai-based global conglomerate Tata Group, said in a U.S. Securities and Exchange Commission filing that it was offering $12.63 per share of Orient-Express to acquire the Bermuda hotel owner.

The offer is a roughly 40 percent premium to Orient-Express' closing price of $9.02 Wednesday on the New York Stock Exchange. Shares...
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