Edelman Financial Group to Go Private

Updated Monday, May 20, 2013 as of 8:49 AM ET

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Edelman Financial Group to Go Private

by: Reuters

Monday, April 16, 2012

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(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