Landry's Restaurants Inc. said Tuesday that its board approved a $1.2 billion acquisition offer from a company owned by Chairman and CEO Tilman J. Fertitta, who already controlled more than half of Landry's shares.
November 03, 2009 at 11:53 AM
1 minute read
Landry’s Restaurants Inc. said Tuesday that its board approved a $1.2 billion acquisition offer from a company owned by Chairman and CEO Tilman J. Fertitta, who already controlled more than half of Landry’s shares.
The news sent shares of the owner of Rainforest Cafe chain and other restaurants surging $2.83, or 26.3 percent, to $13.59 in morning trading. The stock hit a fresh 52-week high of $13.99 earlier in the session.
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