Landry's offers to buy Smith & Wollensky for $64M

HOUSTON In an ongoing push to reposition itself as a high-end restaurant and entertainment-venue operator, Landry's Restaurants Inc. has alerted the board of Smith & Wollensky Restaurant Group Inc. that it intends to acquire the upscale steakhouse operator.

In a letter to Smith & Wollensky management, Landry's offered to acquire the New York-based group "through merger or otherwise" for $7.50 per share in cash, a 50-percent premium on the Jan. 12 market price of

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