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Morgans Investor Rambleside to Offer $507 Million for Hotels

Rambleside, owner of about 4 percent of Morgans stock, said it’s prepared to bid $313 million for Manhattan’s Hudson Hotel and $194 million for the Delano South Beach.

Source: Bloomberg

Real estate investment firm Rambleside Holdings is offering to buy two Morgans Hotel Group Co. lodging properties for about $507 million in cash to speed up efforts to maximize shareholder value.

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