Steakhouse chain Morton's sets terms.

Morton's Restaurant Group, the world’s largest owner and operator of company-owned upscale steakhouse restaurants, filed terms Monday evening. The NY based company intends to offer 6.0 million shares and insiders plan to sell 3.0 million shares at a range of $14 to $16. Assuming the stock prices at the midpoint, the company will have an initial market capitalization of $241 million. Wachovia Securities and Piper Jaffray head the list of underwriters on the deal. Timing has yet to be disclosed.