Landry's To Take On McCormick In $132M Deal

Law360, New York (November 8, 2011, 1:53 PM EST) -- A subsidiary of Tilman J. Fertitta's Landry's Restaurants Inc. will add McCormick & Schmick's Seafood Restaurants Inc. to its restaurant holdings in a $131.6 million deal after the Oregon seafood chain spurned an earlier offer in April, the two companies said Tuesday.

Landry's MSA Co. Inc. will acquire all of McCormick & Schmick's outstanding shares for $8.75 per share in cash, which represents an equity value of about $131.6 million and a 29 percent premium over McCormick & Schmick's closing share price Monday.

Houston-based Landry's will...
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