Landry's acquires McCormick & Schmick's for $131.6M

McCormick & Schmick's Seafood Restaurants Inc. has agreed to be acquired by Landry’s Inc. in a tender-merger deal valued at $131.6 million, the companies said Tuesday.

Landry’s MSA Co. Inc. has offered $8.75 per share for the Portland, Ore.-based seafood chain. McCormick & Schmick’s had closed Monday at $6.77 a share. Houston-based Landry’s said it already had arranged financing, and the companies expect the deal to close in late December or January.

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