Tatas studying Orient-Express snub
Indian Hotels had earlier termed its all-cash offer as "compelling". IHCL along with Charme II Funds, founded by the family of Ferrari chairman Luca Montezemolo, had made an all-cash offer to acquire the outstanding 93.1 per cent stake at USD 12.63 per share.
In 2007, Tatas had attempted to increase holding in the US entity but the efforts failed due to stiff opposition from the then management of Orient Express.
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