Landry's CEO To Buy Restaurants For $1.4B

Law360, New York (May 24, 2010, 5:02 PM EDT) -- Landry's Restaurants Inc. said Monday that it had agreed to be bought by its CEO for approximately $1.4 billion, potentially ending the executive's two-year struggle to purchase the company and partially settling a lawsuit over an earlier incarnation of the deal.

Landry’s CEO and chairman Tilman J. Fertitta, who owned 55 percent of the company's outstanding shares of common stock as of Sunday, has agreed to pay $24 per share to acquire the remaining outstanding common stock in an amendment to a previously signed merger deal,...
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