(Reuters) - Wealth management company Edelman Financial Group said Lee Equity Partners had offered to take the company private in a deal valued at about $258 million.

The $8.85 per share offer is at a 43% premium to Edelman's Friday closing price.

The company's senior management, including co-Chief Executives Ric Edelman and George Ball, will continue in their roles after the deal is completed, the company said in a statement.

Edelman's shares rose more than 41% to $8.72 on Monday on the Nasdaq

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access