Landry's shareholders approve buyout

Landry's shareholders approve buyout

Founder Tilman Fertitta to take company private

Shareholders of Landry's Restaurants Inc. voted Monday to approve a merger with founder and chairman Tilman J. Fertitta that would take the restaurant and gaming company private.

The transaction, which the Houston-based company valued at $1.4 billion, is expected to close Wednesday.

Fertitta, who controls about 55 percent of Landry's shares, offered $24.50 for each share he didn't already own.

In a special meeting Monday, the offer was approved by h

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