Morgans Hotel Group Confirms Unsolicited Proposal from The Yucaipa Companies

Published on : Saturday, November 2, 2013

Morgans HotelMorgans Hotel Group Co.  (“Morgans Hotel Group” or the “Company”) today confirmed that it has received a letter from The Yucaipa Companies, LLC, (“Yucaipa”) containing an unsolicited and conditional proposal to acquire Morgans Hotel Group for $8.00 per share.

 

The Company’s Board of Directors will carefully review the proposal with its financial and legal advisors and will determine the appropriate response in due course. The Company advises its shareholders not to take any action at this time in response to Yucaipa’s proposal, and instead to wait for the response of the Company’s Board of Directors.

 

Source:- Morgans Hotel

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