Same issue here, on a Supermicro 6018R-WTR server. I've attached a
screenshot of the hung state. Note that the watchdog message is because
I've set up IPMI watchdog on this machine (as a workaround for this
issue). The hang on reboot is not happening every time for me -
something like 10%-20% of reboots result in a hang. Kernel version is
4.4.0-87. I have tried setting reboot=pci on the kernel command line and
blacklisting mei and mei_me modules, but neither of those resolved the
problem.

** Attachment added: "screenshot of hung state"
   
https://bugs.launchpad.net/ubuntu/+source/systemd/+bug/1619844/+attachment/4921830/+files/screenshot.png

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https://bugs.launchpad.net/bugs/1619844

Title:
  [Xenial] shutdown/reboot hangs at "Reached target Shutdown"

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