(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
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access