Fertitta: McCormick & Schmick’s needs a turnaround

Landry’s founder on the reasons behind his $137.3M buyout offer for the upscale seafood company

Editor's note: This story has been updated from a previous version.

Tilman J. Fertitta, who made a $137.3 million buyout offer Monday for the 96-unit McCormick & Schmick’s Seafood Restaurants Inc., said the upscale restaurant company was ripe for a turnaround.

Fertitta and LSRI Holdings Inc., a subsidiary of Houston-based Landry’s Restaurants Inc., offered $9.25 a sh

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