(Reuters) - Wealth management company Edelman Financial Group Inc EF.O said Lee Equity Partners LLC 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 percent 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 percent to $8.72 on Monday on the Nasdaq.
Reporting by Sharanya Hrishikesh in Bangalore; Editing by Roshni Menon