Morton’s ShareholdersTurn Down Icahn
Dow Jones/Associated Press
The bitter battle over Morton’s Restaurant Group Inc. ended when shareholders accepted Castle Harlan Inc.’s offer to acquire the company, snubbing an offer from billionaire financier Carl Icahn.
The Morton’s board agreed last week to accept Castle Harlan’s sweetened offer after the private New York buyout firm matched a bid of $71.2 million from a group led by Icahn.
Castle Harlan increased its bid four times because of bids by Icahn.
Morton shares were unchanged at $16.95 on the NYSE.
