Tilman J. Fertitta Terminates Tender Offer for McCormick & Schmick's in Order to Participate in Sale Process
Tilman J. Fertitta announced today that he is terminating, effective immediately, his previously announced tender offer to acquire, through his affiliate LSRI Holdings, Inc., a subsidiary of Landry's, Inc. all of the issued and outstanding shares of common stock of McCormick & Schmick's Seafood Restaurants, Inc. (Nasdaq: MSSR) for $9.25 per share, in order to participate in MSSR's previously announced sale process.
Landry's has entered into a confidentiality agreement with MSSR to conduct due diligence in connection with a possible negotiated transaction with MSSR. The confidentiality agreement requires Landry's to terminate its current tender offer. The tender offer had been scheduled to expire at 5:00 p.m., New York City time, on July 29, 2011.
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