Orient-Express Rejects Takeover Bid

Orient-Express Hotels on Friday sent a letter to Dubai Holding refusing its acquisition offer. "It has been the view of the board of directors that the company's standalone business strategy provided the best long-term value and opportunities for the company and its shareholders," Orient-Express President and CEO Paul White said in a statement, as reported by the Associated Press. Dubai Holding, an investment piece of the government of Dubai, in the past has pursued Orient-Express hoping to develop a joint strategy and possible transaction involving Dubai Holding's hotel assets and the luxury hotel, restaurant, train and river cruise company. (JM)