Orient-Express rejects Tata's $1.2 bn offer

Orient-Express Hotels rejected a takeover offer from Indian Hotels Company , saying the USD 1.2 billion offer undervalues the company.

Orient also named John Scott as its new chief executive, replacing interim CEO Philip Mengel.

Also read: Indian Hotels bids for Orient: May not pay-off in near-term

Shares of Orient were down 11 percent at USD 10.58 on Thursday on the New York Stock Exchange.

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