Burkle may be barred from making Morgans Hotel offer, NY Post reports

theflyonthewall.com

Ron Burkle may be legally barred from making his $8 per share bid for Morgans Hotel due to an agreement he made with the company in 2009 after lending it $75M, New York Post reports, citing sources. Burkle agreed he would not make an offer for Morgans unless there was a proxy fight, sources told the Post.

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