Landry's Restaurants board hires adviser; CEO's offer to be considered

By Lisa Kerner

Charlotte, N.C., April 2 - Landry's Restaurants, Inc. said the special committee of its board of directors retained Cowen and Co. to assist in the review of strategic alternatives.

Alternatives could include a sale of the company, a Landry's news release said.

The committee said it will also consider a proposal from Landry's chairman, president and chief executive officer Tilman J. Fertitta to acquire all of the outstanding shares of the company, as well as alternative proposals the committee may receive.

There can be no assurance that any transaction will be completed, the company cautioned.

It was previously reported that Fertitta offered to buy Landry's for $23.50 cash per share in a transaction valued at $1.3 billion.

Landry's is a Houston-based diversified restaurant hospitality and entertainment company.

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