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Burkle bids $8 for Morgans Hotel

Nov. 04, 2013 7:54 AM ETMorgans Hotel Group Co. (MHGC) StockMHGCBy: Stephen Alpher, SA News Editor
  • Morgans Hotel confirms the receipt of a letter from The Yucaipa Companies with a proposal to acquire the company for $8 per share.
  • Yucaipa already own warrants worth about 30% of Morgans, plus a slug of the debt.
  • MHGC closed at $7.09 on Friday.
  • Press release.

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