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Article: Landry's Restaurants, Inc.'s Board of Directors Approves New Fertitta Offer to Acquire Company for $14.75 Per Share in Cash.
- Article from:
- Mergers & Acquisitions Week
- Article date:
- November 18, 2009
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Landry's Restaurants, Inc. (NYSE:LNY) ("Landry's") announced that it has entered into a definitive merger agreement with a company wholly-owned by Tilman J. Fertitta, Chairman, Chief Executive Officer 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 ...