Landry's CEO raises stake in company to 42.5 pct

Oct 22 (Reuters) - Landry's Restaurants Inc (LNY.N) Chief Executive Tilman Fertitta, who plans to buy the company, raised his stake in the restaurant company to 42.5 percent by buying 728,595 shares.

Fertitta bought the shares in the open market at prices ranging between $11.41 and $11.58 per share in separate purchases made from Monday through Wednesday, according to a filing with the U.S. Securities and Exchange Commission.

As per an amendment to the buyout plan, Fertitta may not vote these shares, bought for about $8.4 million, in favor of adoption of the merger.

Fertitta has offered $13.50 a share for the restaurant-chain operator -- 36 percent below his June 16 offer to buy Landry's for $21 a share. (Reporting by Shivani Singh in Bangalore; Editing by Pratish Narayanan)