Morton’s to Accept Sweetened Icahn Bid
Dow Jones/Associated Press
Morton’s Restaurant Group Inc. said it would call off its deal with Castle Harlan and accept a bid from financier Carl Icahn, who had sweetened his offer for the firm by 11% to $63 million.
The decision may signal the end of a contentious battle for the New Hyde Park, N.Y., steakhouse chain. On Wednesday, Icahn boosted his offer for Morton’s to $15 a share from $13.50, two days after Castle Harlan boosted its offer to $13.50 from $12.60, matching Icahn’s original offer.
Morton’s shares fell 40 cents to $14.80 on the NYSE.
