The buyout plan for Landry's Restaurants (LNY +1.9%) wins the support of Pershing Square Capital...

|About: Landry's Restaurants Inc. (LNY)|By:, SA News Editor

The buyout plan for Landry's Restaurants (LNY +1.9%) wins the support of Pershing Square Capital Management, paving the way for the final $1.4B takeover of the chain by its chief executive. In exchange for raising the takeover offer from $24 to $24.50/share, Pershing agrees to vote its ~25% stake in favor of the transaction.