MKM Partners Upgrades Morgans Hotel Group (MHGC) to Neutral
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SBE to Acquire Morgans Hotel Group (MHGC) in $794M Deal
May 9, 2016 4:03 PM EDTMorgans Hotel Group Co. (NASDAQ: MHGC), today announced it has entered into a definitive agreement under which Morgans will be acquired by leading global lifestyle hospitality company SBE. Under terms of the agreement, SBE will acquire all of the outstanding shares of Morgans common stock for $2.25 per share in cash, which, together with the exchange of Morgans Series A preferred securities, the assumption of debt and transfer of capitalized leases, represents a total enterprise value of approximately $794 million. The per share price represents a 69 percent premium over Morgans unaffected closing price on May 5, 2016, and a... More
SBE Said to Agree to Pay $2.25/Share in Deal for Morgans Hotel Group (MHGC) - DJ
May 9, 2016 2:59 PM EDTSBE agreed to pay $2.25 per share to acquire Morgans Hotel Group (Nasdaq: MHGC), according to Dow Jones.
... MoreMorgans Hotel Group (MHGC) triggers limit-up, limit-down trading pause
May 9, 2016 2:56 PM EDTMorgans Hotel Group (NASDAQ: MHGC) triggers limit-up, limit-down trading pause.
... More