Pursuits
Orient-Express Surges After Indian Hotels Takeover Offer
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Shares of Indian Hotels Co. fell the most in eight months after the country’s biggest lodging operator offered to buy Orient-Express Hotels Ltd., owner of New York’s 21 Club and Rio de Janeiro’s Copacabana Palace.
Indian Hotels declined 4.8 percent to 66.95 rupees as of 9:41 a.m. in Mumbai trading, set for the biggest drop since Feb. 7. Orient-Express rose 23 percent to $11.05 at the close of New York trading, the biggest increase since March 2009.