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News Breaks
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November 3, 2009
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| 10:16 EDT |  | LNY |
| theflyonthewall.com: | Landry's board approves offer to be acquired for $14.75/share in cash | | Landry's Restaurants announced that it has entered into a definitive merger agreement with a company wholly-owned by Tilman Fertitta, chairman, CEO and president of Landry's. Pursuant to the agreement, the Fertitta company has agreed to acquire all of Landry's outstanding common stock not already owned by Mr. Fertitta for $14.75 per share in cash. The offer price represents a premium of approximately 37% over the closing share price of Landry's common stock on November 2, 2009, the last trading day before the announcement of the transaction. The total value of the transaction is approximately $1.2 billion. On November 2, 2009, Fertitta beneficially owned approximately 55.1% of Landry's outstanding shares of common stock. :theflyonthewall.com |
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