Morton's Restaurant Group may sell company
March 16, 2011
by Bryan Salvage
CHICAGO – Morton’s Restaurant Group Inc.’s Board of Directors has been authorized to explore strategic alternatives to enhance shareholder value, including potentially selling the company. The announcement was supported by Castle Harlan Inc. and Laurel Crown Partners LLC, the company’s two largest shareholders.
Although Jefferies & Company, Inc. has been retained as the company’s financial advisor to assist in this process, the company has not set a timetable for completing its exploration of strategic alternatives and stressed there can be no assurance that the process will result in any transaction.
Morton's Restaurant Group, Inc. calls itself the world's largest operator of company-owned, upscale steakhouses. It owns and operates 77 Morton's steakhouses located in 64 cities throughout 26 states, Puerto Rico and six international locations, as well as Trevi, its Italian restaurant, which is located next to the Fountain of the Gods at The Forum Shops at Caesars in Las Vegas, Nev.