Landry's CEO buys 484,129 shares, raises stake to 51.9%

By Lisa Kerner

Charlotte, N.C., Nov. 14 - Landry's Restaurants, Inc. chairman, president and chief executive officer Tilman J. Fertitta bought 484,129 shares of the company's stock, raising his ownership interest to 51.9% from 49%.

According to a schedule l3D/A filed with the Securities and Exchange Commission, the shares were acquired between Oct. 28 and Nov. 12 at prices from $10.7627 to $11.3246 each.

Fertitta beneficially owns 8,839,474 shares of the Houston-based restaurant company.

It was previously reported that Fertitta is in negotiations with Jefferies & Co. regarding financing for his proposed purchase of Landry's at a "substantially" reduced price.

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

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