What's the Deal
Fertitta makes another run at Landry's
The Houston Business Journal is reporting that the Board of Directors of Landry's Restaurants, Inc. has once again approved an offer from CEO and President Tilman Fertitta to buy the 44.9 percent of Landry's shares that he does not currently own at $14.75 per share in a deal said to be worth $1.2 billion. Fertitta has been attemping to go private with the company since January 2008. The original offer was derailed by investors not wanting to disclose certain aspects of the deal to U.S. Securities and Exchange Commission officials, and the current deal must be approved by a majority on non-Fertitta stockholders and if approved would not be finalized until early 2010.