Smith & Wollensky agrees to $80M buyout by Patina

Smith & Wollensky agrees to $80M buyout by Patina

NEW YORK Luxury steakhouse operator Smith & Wollensky Restaurant Group Inc. has agreed to be purchased by the high-end Patina Restaurant Group LLC for about $79.6 million in cash, or $9.25 per share. The transaction comes about a month after Landry's Restaurant Group of Houston offered to acquire "through merger or otherwise" the New York-based steakhouse company for about $65 million or $7.50 per share.

Under the deal disclosed Monday, Patina would subsequently

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