Indian Hotels has made a $1.86 billion bid to take over Bermuda-based Orient-Express Hotels.The offer amounts to $12.63 per share, representing a premium of 40 percent over Orient-Express’s closing share price on Wednesday.Indian Hotels, which is a longstanding shareholder of Orient-Express and already owns 6.9 percent of outstanding shares, announced its offer today.The Mumbai-based corporation, which operates the iconic Taj Hotels & Resorts brand, told the Bombay Stock Exchange it plans to fund the purchase via debt and equity and that it has the money in place for the deal.Orient-Express owns a string of luxury hotels around the world, as well as the famous train service of the same name.The Bermuda-based company’s shares were up 22.5 percent at $11.05 in New York trading yesterday.