Morton's Restaurant to get new debt for acquisition by Fertitta

By Sara Rosenberg

New York, Dec. 16 - Morton's Restaurant Group Inc. plans on using new debt and cash to fund its buyout by Tilman J. Fertitta's wholly owned company Fertitta Morton's Restaurants Inc., according to a news release.

Morton's is being purchased for $6.90 per share in cash through a tender offer that is expected to begin within 10 days. Upon the successful completion of the tender offer, Fertitta will acquire all remaining shares through a second-step merger.

Closing is expected in early February, subject to the tender of a majority of shares, the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary conditions.

Morton's is a Chicago-based operator of company-owned upscale steakhouses.

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