Deal Snapshot
HOULIHAN´S RESTAURANTS ENTERS CHAPTER 11 AS FELLOW US OPERATOR LANDRY´S EMERGES AS STALKING HORSE BIDDER
Friday 15 November 2019

American casual restaurant and bar chain Houlihan's Restaurants, Inc has executed an asset purchase agreement with Landry's, to acquire substantially all of the company's assets, the company said. Landry's is serving as stalking horse bidder. The deal is subject to higher or otherwise better offers.
Landry's has offered to pay USD 40m for Houlihan's, and to assume certain liabilities. To facilitate the sale, HRI has initiated proceedings under chapter 11 of the US Bankruptcy Code in the District of Delaware.


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Details
Date Published: 15/11/2019
Target: Houlihan´s Restaurants, Inc
Country: USA
Deal Size: 40m (USD)
Sector: Hotels/Restaurants/Casinos/Catering
Type: Corporate acquisition
Financing: Cash
Status: Bidding
Vendor:
Buyer: Landry´s, Inc
Comment:
Landry becomes stalking horse bidder as Houlihan´s files for Chapter 11 protection

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