LIVE MARKET TRACKER :   BSE SENSEX   26867.55      |    NSE NIFTY 8027.70    
GLOBAL MARKETS :  NASDAQ 4580.271   +0.50%    |    FSI London 6825.31   +0.08%    |    NIKKEI Japan 15476.6   +0.34%
  USD GBP EUR CAD AUD INR
USD - 0.6022 0.7618 1.0872 1.0717 60.49
GBP 1.661 - 1.2653 1.8059 1.7802 100.4733
EUR 1.3129 0.7906 - 1.4275 1.4071 79.4197
CAD 0.92 0.554 0.7009 - 0.986 55.6527
AUD 0.9335 0.5621 0.7111 1.0149 - 56.465
INR 0.0165 0.01 0.0126 0.018 0.0177 -
Indian-Commodity  :  Corporate  :  IHCL to sweeten deal for acquiring Orient Express: Reports

IHCL to sweeten deal for acquiring Orient Express: Reports (06-Dec-2012)

In a bid to acquire British hospitality group Orient Express, Indian Hotels Company (IHCL) working on a revised offer, has reportedly hiked its offer price by 10-15%. The improvised offer could be more than $15 per share as IHCL readies the backing of an expanded lenders consortium to fund the bid, after Orient Express last month rejected $12.63 a piece offer valuing it at $1.86 billion.

For a third time in row, Orient Express, owner of New York's 21 Club restaurants and the Hotel Cipriani in Venice, Italy, rejected takeover bid by Indian Hotels Company, reasoning the bid undervalues the company, last month. Indian Hotels, in collaboration with fund controlled by Italy's Montezemolo & Partners, last month offered to buy the 93.1 percent of stake in Orient-Express for an amount of $12.63 per share.

Meanwhile, Indian Hotels already holds around 7 percent stake in Orient Express. Indian Hotels, a unit of Tata Group that has interests ranging from steel to software, currently is reported to be evaluating its options after the rejection.

IHCL and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces. The Taj Hotels Resorts and Palaces currently has 93 hotels in 55 locations across India with an additional 16 international hotels in the Maldives, Malaysia, Australia, UK, USA, Bhutan, Sri Lanka, Africa and the Middle East.


Top News Today
RIL, ONGC and Wockhardt to see some action today
(01-Sep-2014)

RIL, ONGC and Wockhardt to see some action todayReliance Industries (RIL) has returned nearly 1,384 acres of land in Gurgaon that was acquired for its SEZ, saying that the withdrawal of the concessions offered to special economic zones (SEZ) has made......click on news to read complete article.

M&M, Hero MotoCorp and Tech Mahindra to see some action today
(27-Aug-2014)

M&M, Hero MotoCorp and Tech Mahindra to see some action todayMahindra Agribusiness, part of the farm to aerospace conglomerate Mahindra & Mahindra (M&M), is all set to enter the dairy segment through the inorganic route, with a focus on the pouched......click on news to read complete article.

RIL, SAIL and Tata Steel to see some action today
(21-Aug-2014)

RIL, SAIL and Tata Steel to see some action todayReliance Industries (RIL) is implementing a project to import 1.5 million tonnes of ethane to feed its crackers in India, taking advantage of the US shale gas revolution. The project will significantly......click on news to read complete article.

International Stock News
US markets gain on encouraging economic data
(01-Sep-2014)

US markets gain on encouraging economic dataThe US markets closed higher on Friday, building on weekly and monthly advances, as largely upbeat US economic data offset overseas worries. The S&P and Dow notched their fourth up week in a row,......click on news to read complete article.

US markets closed mostly up; S&P holds 2,000 mark
(28-Aug-2014)

US markets closed mostly up; S&P holds 2,000 markThe US markets closed mostly higher on Wednesday, with the S&P 500 staying around 2,000 a day after it closed over that milestone. Global markets are surmounting crises in Ukraine, the Gaza Strip......click on news to read complete article.

US markets gain; S&P close above 2,000 for the first time
(27-Aug-2014)

US markets gain; S&P close above 2,000 for the first timeThe US markets closed higher on Tuesday, with the S&P 500 notching it's first-ever finish above the milestone level of 2,000. A stronger-than-expected reading on consumer confidence provided a......click on news to read complete article.

 

     
  
Recent Corporate News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.