The billionaire Reuben brothers have begun talks with US investor Cohen & Steers over the future of New York-listed leisure group Orient-Express.
The investors, who are shareholders in the group that owns upmarket hotels and travel assets including the railway business from which it took its name, believe the $1.9bn bid tabled last week by Tata's Indian Hotels Company undervalues the group. It is thought the pair are now looking at options including a joint counter bid.
David and Simon Reuben own a 6 per cent stake in the group while Steve Cohen's SAC Capital owns about 13 per cent. The group owns Le Manoir aux Quat'Saisons in Oxford, 49 hotels and six trains.