Cohen's SAC Capital Discloses 5.6% Stake in Orient-Express (OEH)
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In a 13G filing this morning on Orient-Express Hotels Ltd. (NYSE: OEH), Steve Cohen / SAC Capital disclosed a 5.6% stake (2,374,492 shares) in the company. The firm held 41,600 shares of Orient-Express at the quarter ended September 30, 2007.
Orient-Express has recently received a $60 takeover offer from Dubai Investment Group. Another group, The Indian Hotels Company, also expressed interest in acquiring the company. Orient-Express rebuffed both offers, saying its standalone business strategy provided the best long-term value for shareholders.
It is unclear if Cohen sees eye-to-eye with the company's long-term vision or if he is looking to make a quick buck on a buyout. What is clear is that Cohen is always out to make money.
While not considered an activist investor, Cohen has taken activist stances in a few names. Cohen's current '13G' on Orient-Express indicates he is a passive investor. Of course, this can change.
Orient-Express owns luxury hotels around the world. Many of the companies properties are considered "prize" hotels.
Orient-Express has recently received a $60 takeover offer from Dubai Investment Group. Another group, The Indian Hotels Company, also expressed interest in acquiring the company. Orient-Express rebuffed both offers, saying its standalone business strategy provided the best long-term value for shareholders.
It is unclear if Cohen sees eye-to-eye with the company's long-term vision or if he is looking to make a quick buck on a buyout. What is clear is that Cohen is always out to make money.
While not considered an activist investor, Cohen has taken activist stances in a few names. Cohen's current '13G' on Orient-Express indicates he is a passive investor. Of course, this can change.
Orient-Express owns luxury hotels around the world. Many of the companies properties are considered "prize" hotels.
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