Landry's CEO ups stake to 56.7% with purchase of 318,353 shares

By Lisa Kerner

Charlotte, N.C., Dec. 3 - Landry's Restaurants, Inc. chairman, president and chief executive officer Tilman J. Fertitta bought 318,353 shares of the company's stock, raising his ownership interest to 56.7% from his stake on Nov. 21 of 54.8%.

The shares were acquired between Nov. 21 and Dec. 2 at prices from $10.28 to $11.2247 each, according to a schedule l3D/A filed with the Securities and Exchange Commission.

Fertitta beneficially owns 9.65 million shares of the Houston-based restaurant company.

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. It was recently reported that Fertitta was in negotiations to finance the proposed purchase at a reduced price.

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