Reuters: Private Equity: UPDATE 1-Edelman Financial Group to go private in $258 mln deal

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UPDATE 1-Edelman Financial Group to go private in $258 mln deal Apr 16th 2012, 13:37 Mon Apr 16, 2012 9:37am EDT April 16 (Reuters) - Wealth management company Edelman Financial Group Inc 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.

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