Morgans Hotel Agrees to $794 Million Purchase by Nazarian's SBEBy
Acquisition price is $2.25 a share in cash, a 69% premium
Burkle's Yucaipa to take stake in SBE as part of deal
Morgans Hotel Group Co., the operator of properties including the Mondrian in Los Angeles and Royalton in New York, said it agreed to be purchased by Sam Nazarian’s SBE for $2.25 a share in cash.
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