Fertitta Free…

…to do some cooking of his own, and I ain’t talkin’ chicken nuggets.

Fertitta gets financing, will take Landry’s private

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.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s