Morgans Hotel Group (MHGC) Board Authorizes $30M Buyback
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Morgans Hotel Group Co. (NASDAQ: MHGC) today announced that it's Board has authorized a $30 million buyback program, or approximately 9% of its outstanding shares. The program will expire July 1, 2009.
The Company has previously completed two stock repurchase programs, totaling $75 million.
Morgans Hotel Group Co., a hospitality company, engages in the operation, ownership, acquisition, development, and redevelopment of boutique hotels in gateway cities and resort markets in the United States and Europe.
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