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Edelman Financial Group to go private in $258 million deal
April 16, 2012 / 9:20 PM / 6 years ago

Edelman Financial Group to go private in $258 million deal

(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

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