Landry's Owner To Fork Over $117M To Buy Steakhouse Co.

Law360, New York (December 16, 2011, 9:46 PM EST) -- Tilman Fertitta, the owner of Houston-based restaurant and hospitality giant Landry's Inc., said Friday it will scoop up Morton’s Restaurant Group Inc. in a deal reportedly valued at $117 million.

Feritta will buy all outstanding shares of Morton's at $6.90 a share, a premium of roughly 34 percent of the company's Dec. 15 closing price, the Morton’s steakhouse owner announced Friday, adding that it expects to close the transaction in early February 2012. The transaction will value the deal at $117 million, Bloomberg reported.

"This transaction...
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