…to do some cooking of his own, and I ain’t talkin’ chicken nuggets.
Tilman Fertitta has reached an agreement with Landry’s Restaurants to take the company private. He is offering about $415 million.
The total value of the offer is about $1.3 billion, including $885 million in debt.
Under the agreement, Fertitta would pay $21 a share, which is 37 percent more than Landry’s closing price on April 3, the last trading day before Fertitta revised his original offer. The offer is about 25 percent higher than Friday’s closing price of $16.79 for Landry’s shares.
Well, it was only a matter of time really.