Landry’s agrees to Fertitta’s $1.3B buyout

HOUSTON Landry's Restaurants Inc. said today that it has accepted a $1.3 billion buyout offer from its chief executive and founder, Tilman J. Fertitta, who already owns 39 percent of the casual-dining, gaming and entertainment-venue company.

Fertitta has created a private-equity firm called Fertitta Holdings Inc. to buy Landry’s for $21 a share, which is about 25 percent over Friday’s closing price of $16.79. The company valued the share purchase at about $415 m

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