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* Says will not support planned takeover of Landry's by CEO * Says buys 1.6 mln shares for $21.7 mln Nov 13 (Reuters) - Pershing Square Capital Management LP on Friday reported a 9.6 percent stake in Landry's Restaurants Inc, and said it will not support a planned takeover of the 1919251316 Pershing Square, headed by activist investor William Ackman, purchased about 1.6 million shares of Landry's for $21.7 million, it said in a regulatory filing. Richard McGuire, an ex-partner at Pershing and current chairman at Borders Group Inc, reported a further stake of 50,000 shares in Landry's. The filing reported that Pershing and its affiliates controlled an additional 2.2 million shares under certain cash-settled total return swaps, bringing their total exposure in Landry's to 3.8 million shares. Last week, Landry's had agreed to be taken private by its CEO Tilman Fertitta in a $1.2 billion cash deal that valued the company at $14.75 a share. Shares of the company, which operates the iconic Golden Nugget Hotel & Casino in Las Vegas and several casual dining outlets including Landry's Seafood House, closed at $16.18 Friday on the New York Stock Exchange. (Reporting by Renju Jose; Editing by Anthony Kurian) Keywords: LANDRY'S/ (renju.jose@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 080 4135 5800; Reuters messaging: renju.jose.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
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