Landry’s chief Tillman Fertitta announced after the close of trading Friday that he is terminating his tender offer to acquire McCormick & Schmick’s Seafood Restaurants (MSSR) in order to participate in the company’s previously announced sale process.
Fertitta said that by entering into the confidentiality agreement imposed in the sale process, he and Landry’s will be provided with the necessary information to have productive negotiations with McCormick & Schmick’s.
The $9.25 per share tender offer had been scheduled to expire on July 29.
Keep an eye on shares of Bob Evans Farms (NASDAQ:BOBE) in today’s trading session as well. Barron’s reported over the weekend that Capstone Equities founder Joshua Zamir believes the stock price does not reflect company’s valuable property holdings.
Zamir, an investor in the company, said he is encouraging the company to unlock the value of its real estate, perhaps by selling some of its property holdings and leasing them back.
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