A white knight seems to have appeared for Eagle Hospitality Trust ("EHT") and are in serious discussion with the Sponsor Urban Commons, special restructuring firm and directors of EHT for a deal to take a 70% control of EHT Hotel Manager. The Far East Consortium International Ltd group ("FECIL"). Never-mind that Howard Wu and Taylor Woods had again acted smart on their own to award exclusive negotiation with this new potential white knight instead of doing an open request for proposal from other eligible and reputable suitors which is a more transparent approach and introduced competition for the best deals from the bidders (that would have best served the interest of unit-holders). Well, at least, the talk with the FECIL has gone on for almost 2 months now.
1. White knight enters into picture
Howard Wu and Taylor Woods had signed an agreement with FECIL for a non-binding conditional...
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