Tuesday, November 8, 2011, 8:48 AM
Restaurant chain Landry's agrees to buy McCormick & Schmick's (MSSR) for $131.6M, after an on-again, off-again negotiation. The $8.75/share offer represents a premium of ~30% to MSSR's Monday closing price. MSSR +28.1% premarket.
Comment![M&A, Consumer, On the Move]
Monday, July 18, 2011, 12:49 PM
McCormick & Schmick's (MSSR +3.5%) is higher today, following Friday's announcement from Tilman Fertitta, owner of Landry's Restaurants, that he was terminating his $137M tender offer so he can participate in the latter company's sale process.
Comment![Consumer, M&A, On the Move]
Thursday, April 21, 2011, 2:52 PM
McCormick & Schmick’s (MSSR -4.5%) rejects a $137M bid from Landry’s Restaurants and adopts a poison pill, saying the offer is “opportunistically timed to take advantage of a trough in the company’s stock price.” (PR) Landry’s starts a proxy fight, arguing that MSSR’s board is not acting in the best interest of its shareholders.
Comment![M&A]
Monday, April 4, 2011, 8:46 AM
McCormick & Schmick's Seafood Restaurants (MSSR) +29% premarket after shareholder Tilman J. Fertitta says he'll tender an offer to buy the rest of the company for $9.25/share. MSSR owns and operates about 90 upscale casual-dining spots in more than 25 states.
Comment!
Tuesday, August 26, 2008, 10:48 AM
Darden Restaurants (DRI) is down 15%. It cut its 2009 outlook, saying its previous forecast was overly optimistic. Darden and its peers (RUTH, MSSR, RRGB...) are taking it on both cheeks: Higher food prices, and tighter-fisted diners.
Comment!