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Non-Hostile (?) Takeovers

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The O provides an update regarding Landry's Restaurants' bid to purchase the Portland-based McCormick & Schmick's chain. The awesomely named Tilman Fertitta, president of Landry's, has rescinded his original $9.25-a-share bid (which was rejected by M&S's board of directors back in April) in order to enter a confidentiality agreement with McCormick. According to the O, by terminating his original "hostile takeover" bid, Fertitta can now negotiate directly with M&S execs for purchase of the chain, which also owns Portland's Jake's Famous Crawfish and Jake's Grill. [OregonLive]

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