Tata's Hotel Arm Rescinds $1.2B Bid For Orient-Express

Law360, New York (November 8, 2013, 3:44 PM EST) -- A year after being rebuffed, the hotel investment unit of India's Tata Group has decided to formally pull its $1.2 billion bid to take over Orient-Express Hotels Ltd., according to Friday filings with the Bombay Stock Exchange and the U.S. Securities and Exchange Commission.

The board of directors for Tata's Indian Hotels Company Ltd., which oversees Taj Hotels Resorts and Palaces, on Friday voted to terminate its efforts to buy the company. The $12.63-per-share offer, first made in October 2012 had been rebuffed by Orient-Express last...
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