The long-running and controversial buyout plan for Landry’s Restaurants Inc. won support of a crucial shareholder Sunday, which could pave the way for the final $1.4 billion takeover of the seafood restaurant chain by its chief executive.

Pershing Square Capital Management, which has control of just under 25% of Landry’s stock, announced Monday that it supports a buyout offer by Tilman Fertitta, the company’s chief executive. In exchange for Fertitta raising his takeover offer from $24 to $24.50 per share, Pershing has agreed to vote its shares in favor of the transaction. Shares closed Friday at $23.94.

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