Fertitta's offer to acquire Landry's clears waiting period hurdle

By Lisa Kerner

Charlotte, N.C., Aug. 15 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed acquisition of Landry's Restaurants, Inc. by Fertitta Holdings, Inc., according to a government news release.

In June, Landry's agreed to be acquired by Fertitta Holdings for $21.00 cash per share in a transaction valued at about $1.3 billion, including debt of about $885 million.

Fertitta Holdings is wholly owned by Landry's chairman, president, chief executive officer and original founder Tilman J. Fertitta. The 39% shareholder originally offered to acquire Landry's for $23.50 per share in January, it was previously reported.

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

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