At the time, Fertitta said he would pay $9.25 per share for each McCormick & Schmick's share he did not already own, a 30% premium to the target's closing price of $7.12 the day before the offer was made. McCormick & Schmick's shares rose 1.4% to $9.20 on Tuesday afternoon. Fertitta's offer was made though a unit of Landry's which has been acquiring novelty restaurant brands such as Bubba Gump Shrimp, Oceanaire and Claim Jumper steakhouses. Landry's traded publicly until last year when Fertitta took it private for $1.4 billion.
In March General Mills ( GIS)
Other firms looked to growing niche markets for expansion.
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