Olshan’s Activist Practice Group Paves Way for Friendly Merger Between Landry’s & McCormick & Schmick’s
After McCormick & Schmick’s rejected Landry’s acquisition offer in April 2011 and implemented a defensive "poison pill", Olshan’s Activist Practice Group quickly formulated a strategy that would pressure the McCormick & Schmick’s Board to either negotiate a transaction with Landry’s or conduct a sale process for the company. The Activist Practice Group navigated Landry’s through a complex and unprecedented "withhold quorum" proxy campaign. The Daily Deal reported the successful outcome. Landry’s participated in the sale process and ultimately signed a merger agreement with McCormick & Schmick’s on November 7, 2011.
Steve Wolosky and Andrew M. Freedman led the proxy strategy from the Activist Practice Group and Steve Wolosky and Michael R. Neidell led the merger negotiations and due diligence process.
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