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BRIEF-Morgans Hotel Group gets $2.75/share revised takeover proposal

Sept 14 Morgans Hotel Group Co :

* Morgans receives revised takeover proposal and will adjourn special meeting of stockholders to evaluate

* "Letter reconfirms interest of Bidder V in pursuing an acquisition of common stock of Morgans for $2.75 per share"

* As part of submission, Bidder V also furnished letter of intent from new potential financing source which indicated that financing source is prepared

* Bidder V also provided to Morgans an executed non-disclosure agreement in form previously requested by company

* "board noted that there are significant concerns with regard to certainty and timing of any potential transaction with Bidder V"

* Board has not made, nor does currently propose to make, change in recommendation in favor of proposed merger with SBEEG Holdings, LLC

* Bidder V says new potential financing source to provide up to $500 million in capital to support transaction Source text for Eikon: Further company coverage:

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