UPDATE 1-Landry's ends buyout deal with CEO; shares plunge

Jan 12 (Reuters) - Landry's Restaurants Inc (LNY.N) ended its buyout agreement with Chief Executive Tilman Fertitta as the company was unwilling to disclose financing terms as required by regulators, sending its shares down as much as 43 percent.

The move ends Fertitta's nearly year-long attempt to buy the restaurant-chain operator.

Fertitta had reached an agreement in October to buy Landry's for $13.50 a share, a 36 percent discount to an earlier deal he struck with the company on June 16.

The latest deal fell through after Landry's said it could not comply with the U.S. Securities and Exchange Commission's requirement that it disclose certain information from a commitment letter issued by the lenders.

The lenders held that any disclosure would be in violation of the terms of the commitment letter, and result in the termination of their commitments for both the buyout and alternative debt financing.

Landry's said it terminated the deal in order to maintain alternative financing for its existing $400 million in senior notes with the lenders, Jefferies & Co and Wells Fargo Foothill LLC.

Landry's, which operates the iconic Golden Nugget Hotel & Casino in Las Vegas and several casual-dining outlets including Landry's Seafood House, expects the refinancing of its senior notes to close by the end of February.

Shares of Houston-based Landry's fell to a low of $7.00 before recouping some losses to trade down $4.31 at $8.03 Monday morning on the New York Stock Exchange. (Reporting by Anne Pallivathuckal in Bangalore; Editing by Anthony Kurian)