It's finally official: According to BusinessWire, Landry's Restaurants Inc. has purchased the Portland-based McCormick & Schmick's seafood chain for $131.6 million, or about $8.75 per share. The Houston-based Landry's (which owns chains like Claim Jumper, the Rainforest Cafe, and Bubba Gump Shrimp Co.) made its first bid for McCormick's in April of this year. Per the press release, M&S's chairman of the board Douglas Schmick says that “sale of the Company to Landry’s will provide substantial and immediate cash value for our stockholders." [BW]
