NEW YORK (AP) -- Shares of the Morgans Hotel Group surged nearly 14 percent Tuesday after saying that if its board nominees are elected, they would consider selling the company.
The company has received "expressions of interest" by five potential buyers, it said.
Shareholders will vote for board nominees during the annual meeting on June 14.
Shares of Morgans Hotel Group Co. rose 91 cents to $7.58 in midday trading. The stock reached a multi-year high of $7.88 earlier in the session.
- Investment & Company Information
- Morgans Hotel Group