Landry's Restaurants, Inc. (NYSE:LNY), announced today that the 'go-shop' process conducted on the Company's behalf by Cowen and Company ('Cowen'), the independent financial advisor to the special committee of independent directors of the Company, has ended.
During the "go-shop" period, Cowen held a variety of discussions with potential transaction partners and no proposals were received from anyone.
During the "go-shop" period, the Company was permitted to initiate, solicit and encourage alternative proposals until July 31, 2008. With the expiration of the "go-shop" period and with the absence of any proposal from any other party, the Company is continuing to work with Fertitta Holdings, Inc. to complete the merger in a timely manner, subject to satisfaction of the conditions set forth in the merger agreement.
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