Restaurant News Resource - Landry’s Restaurants Restaurant Industry News

Landry's has exercised its right, granted under the merger agreement with MSSR pursuant to which the tender offer was made, to purchase additional shares from MSSR which will allow Landry's to complete and close the merger and acquisition of MSSR.

Landry's, Inc. announced that Landry's MSA Co., Inc., a wholly-owned subsidiary of Landry's, is extending its previously announced tender offer to acquire, all of the issued and outstanding shares of common stock of McCormick & Schmick's Seafood Restaurants, Inc. (Nasdaq: MSSR) for $8.75 per share, until 5:00 p.m., New York City time, on December 30, 2011, unless the offer is further extended.

Landry's, Inc. today announced that it intends to offer, subject to market and other conditions, $90 million aggregate principal amount of its 11 5/8% Senior Secured Notes due 2015.

McCormick & Schmick's Seafood Restaurants, Inc. (NASDAQ: MSSR) and Landry's, Inc. today announced that Landry's MSA Co., Inc., a wholly-owned subsidiary of Landry's, has commenced a tender offer to acquire all of the issued and outstanding shares of common stock of MSSR at a price of $8.75 per share, net to seller in cash without interest.

Landry's will acquire MSSR through an all-cash tender and merger. The tender offer will commence no later than 10 business days from the date hereof. The price for the MSSR shares represents a premium of approximately 30% to the closing price on Monday, November 7, 2011.

Claim Jumper Restaurants, LLC announced today that the Company has obtained bankruptcy court approval of the sale of substantially all of its assets to Landry’s Restaurants, Inc.

andry's Restaurants, Inc. (NYSE: LNY) announced that its stockholders have voted to approve the merger agreement with a company wholly-owned by Tilman J. Fertitta, Chairman, Chief Executive Officer and President of Landry's, at a special meeting held yesterday.

Revenues from continuing operations for the three months ended June 30, 2010, totaled $294.6 million, as compared to $282.0 million a year earlier.

Revenues from continuing operations for the three months ended March 31, 2010, totaled $258.7 million, as compared to $256.3 million a year earlier. Revenues from the restaurant and hospitality group were $199.2 million and $200.3 million for the first quarter of 2010 and 2009, respectively and $59.5 million and $56.0 million for the same periods from the Golden Nugget properties.

Landry's Restaurants, Inc. (NYSE: LNY)) announced that after lengthy negotiations with the Special Committee, made up of outside non-employee directors, and attorneys representing the plaintiff in a lawsuit pending in Delaware, Tilman J. Fertitta has reached a tentative agreement with the plaintiff's attorneys to settle the stockholder derivative claim and certain other claims in connection with Mr. Fertitta's proposal to merge Landry's into his wholly-owned company.