SBE’s Morgans Hotel Acquisition May Not Happen After All — Again
Photo Caption: Delano South Beach, a Morgans Hotel Group property, had a tough third quarter due to Zika concerns. Morgans Hotel Group
Skift Take
Will someone just buy this hotel company that so desperately needs to be bought before year's end?
Will Morgans Hotel Group ever get bought? At this point, who knows?
According to an SEC filing filed by Morgans Hotel Group today, SBE will not be able to close its acquisition of Morgans Hotel Group for $82 million by the deal's original deadline.
On November 8, both SBE and Morgans entered into an agreement to extend the deadline to close the deal to November 30. According to the terms of the original merger agreement, the deal was supposed to close by November 9.
According to the filing, "The parties are continuing to work towards closing the merger as promptly as practicable. SBE and its partners, Yucaipa Hos
