UPDATE 2-Landry's CEO unveils hostile bid for McCormick & Schmick's
* Offer at $9.25/shr, values co at $137.3 mln
* Offer at 30 pct premium to Friday's close
* Shares jump 30 pct in pre-market trade (Rewrites, adds details on Fertitta, share movement)
April 4 (Reuters) - Landry's Restaurants Inc's Chief Executive Tilman Fertitta, who took the company private last year, plans to launch a hostile bid for McCormick & Schmick's Seafood Restaurants Inc , valuing the company at about $137.3 million.
Shares of the company rose 30 percent to $9.25 in trading before the bell on Monday, matching Fertitta's offer price.
Fertitta already owns about 10.1 percent of the restaurant chain, and is one of its biggest shareholders.
On Monday, Fertitta said he intends to commence, through his affiliate LSRI Holdings Inc -- a subsidiary of Landry's Restaurants -- an all-cash tender offer to buy the upscale seafood restaurant chain.
Last year Fertitta bought Landry's for $1.4 billion in cash, ending a nearly two-year-long battle during which Pershing Square, headed by activist investor William Ackman, was resisting Fertitta's takeover of the restaurant chain.
McCormick & Schmick's, which operates 96 restaurants in the United States and Canada, recently outlined a plan to improve long-term top-line growth and margins, and to temporarily close some of its restaurants to complete upgrades.
Last month, peer Morton's Restaurant Group said it was considering "strategic alternatives" including a possible sale and that it has the support of its top two shareholders. [ID:nL3E7EG1YB]
Fertitta's offer is at a 30 percent premium to McCormick stock's close of $7.12 on Friday on Nasdaq.
Fertitta, who has a financing commitment from Jefferies Group relating to the offer, is requesting a list of stockholders and expects to mail the formal offer to the company's stockholders as soon as possible, the statement said. (Reporting by Nivedita Bhattacharjee and Renju jose; Editing by Gopakumar Warrier)
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