Landry's Restaurants (LNY) announced Tuesday morning that it agreed to be acquired by a company wholly-owned by Tilman J. Fertitta, Chairman, CEO and President of Landry's, for $14.75 per share in cash.
Landry's Restaurants was halted in early trade Tuesday, but spiked to the upside once trade resumed around 10:30AM. The stock finished up by $2.93 at $13.69 on the highest volume of the year. Shares rose above a 2-month range and set a new high for the year.
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