Morgans Hotel Group

Morgans Hotel Group shareholders OK purchase by SBE Nazarian’s acquisition is valued at $800M

Hudson Hotel (inset: Sam Nazarian)

Shareholders voted to appr上海龙凤论坛

新上海贵族宝贝论坛
ove SBE Entertainment Group s acquisition of Morgans Hotel Group on Wednesday, in a deal valued at about $800 million.

Sam Nazarian s SBE, a Los Angeles-based hospitality group will acquire Morgans’ 20-hotel portfolio, which include阿爱上海同城

阿拉爱上海同城
s the Hudson Hotel on Columbus Circle, and is set to close on the deal later this year, the Wall上海千花网交友

上海千花网论坛
Street Journal reported.

In May, SBE reached a deal to buy Morgans for $2.25 per share, but one shareholder subsequently sued to block it. Another failed deal, in 2015, would have merged the two companies with SBE taking two of the companies hotels.

SB上海龙凤论坛

新上海贵族宝贝论坛
E was reportedly partnering with Ron 上海夜网

阿爱上海同城
Burkle, a billionaire shareholder and the co-founder of private equity firm Yucaipa Companies, to acquire Morgans, according to the New York Post. Burkle was not mentioned in the release and a spokesperson for SBE was not immediately available for comment.

The company also received a rival offer of $2.75 per share from an unnamed bidder, the Post reported.

In its May issue, The Real Deal went behind the scenes to trace the origins of the company’s woes. [WSJ]  Chava Gourarie

Tags: morgans hotel group, SBE Entertainment
We are having some technical difficulties. Try again later.

By clicking Subscribe you agree to our Privacy Policy.

Leave a Reply

Your email address will not be published. Required fields are marked *