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HOUSTON – With its “go-shop” process now complete and no new transaction proposals received, Landry’s Restaurants can continue to proceed with its $1.3-billion acquisition by founder, chairman, president and CEO Tilman J. Fertitta, the company has announced. The period allowed the company to solicit competing takeover proposals for the 61% of the company that Fertitta does not already own.

With no other bids, Fertitta Holdings, a private equity company formed by the executive to acquire the chain, has passed one more step in its plan to pay $21 per share and assume $885 million in debt to take Landry’s private. The company operates restaurants under the Landry’s Seafood House, Chart House, Rainforest Café, Saltgrass Steak House and Signature Group banners, as well as hotels, marinas, retail stores and the Golden Nugget Hotels and Casinos in Las Vegas and Laughlin, NV.

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