Just Say No: Landry’s Attempts Hostile Takeover for McCormick & Schmick’s

April 11, 2011

McCormick & Schmick’s rejected Landry’s Restaurant’s Inc.’s overtures for a takeover.  So Landry, like many jilted suitors, went hostile and took its $9.25 per share offer directly to McCormick’s shareholders.

Currently, McCormick’s shareholders are unimpressed with the offer, because the shares are trading at $9.35 per share.  McCormick’s board probably rejected the offer because Landry did not want to pay full price.

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