Steakhouse chain Morton's files for IPO

Morton's Restaurant Group, the world’s largest owner and operator of company-owned upscale steakhouse restaurants, registered for an initial public offering. Over the past twelve months, the company generated $294 million in revenue with an operating margin of 8.1%. Wachovia Securities and Piper Jaffray head the list of underwriters on the deal. Terms and timing have yet to be disclosed.