- Discussions between lenders and the group that wants to acquire Morgans Hotel Group (NASDAQ:MHGC) are still ongoing, just days before a shareholder deadline to vote on the deal.
- The refinancing of mortgage debt agreements is still being worked out, reports The New York Post.
- Ron Burkle and SBE Entertainment bid $2.25 per share for the debt-heavy hotel operator.
- MGHC fell 11% yesterday to under $2 amid concerns on the status of the buyout.