Orient-Express Hotel (NYSE:OEH): Krishna Kumar, writing on behalf of The Indian Hotels Company, or IHCL, and certain other members of the Tata group of companies, sent a letter to Philip Mengel, interim Chief Executive Officer of Orient-Express (NYSE:OEH), offering to acquire the remaining shares of the company that they do not already own for $12.63 per share in cash. The letter stated in part, “While we are disappointed that your Board of Directors has indicated they would not be interested in exploring a transaction involving a significant equity investment by IHCL, we continue to believe that a transaction between the two organizations is both financially and strategically compelling to our respective shareholders. Therefore, we are proposing an alternative transaction whereby Tata Entities would acquire all of the outstanding shares of Orient-Express Hotels for $12.63 per share in cash, representing a significant premium to the Company’s recent share price. We have secured the requisite capital to consummate the entire transaction, including equity from the Tata Entities as well as debt financing from Bank of America N.A, ICICI Bank and Standard Chartered Bank.” The Indian Hotels Company currently owns 6.9% of Orient-Express’s outstanding shares, which are trading up 35.8%, or $3.23, to $12.25 in morning trading. Their shares closed at $11.05, up $2.03 or 22.51% on the day. They have traded in a 52-week range of $6.16 to $11.10.
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Southwest Bancorp (NASDAQ:OKSB): Southwest Bancorp reported a third quarter of 22c, and a consensus of 13c. Their shares closed at $11.17, down $0.05 or 0.45% on the day. They have traded in a 52-week range of $3.76 to $11.45.
Polaris Industries (NYSE:PII): Polaris Industries raised their fiscal year 2012 revenue view to 19%-20% from 2011 with a consensus of $3.13 billion. Their shares closed at $88.35, up $3.07 or 3.6% on the day. They have traded in a 52-week range of $53.35 to $86.93.
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