Latest The Edelman Financial Group News
Apr 17, 2012
Deal calls for the firm to be acquired and privatized for $258 million The well-known—and controversial—advisor, radio and television personality Ric Edelman (left) announced Monday that his Edelman Financial Group has entered into a merger agreement with Lee Equity Partners, a private equity firm, and will be acquired and privatized for $8.85 per share in cash, or about $258 million. The amount represents a premium of 43% over TEFG’s closing price Friday of $6.18, and a premium of 33% over TEFG’s volume-weighted average closing price over the last 20 trading days, according to the company. "They approached us several years ago and we spoke with them again last summer," Edelman told AdvisorOne . "We had three businesses we were involved in a while back which we no longer have, so they like the direction in which the firm is going. You'll have to ask Lee, but I think they like what we do and how we do it. " Complete your profile to continue reading and get FREE access to ThinkAdvisor.com, part of your ALM digital membership. Your access to unlimited ThinkAdvisor.com content isn’t changing. Once you are an ALM digital member, you’ll receive: Critical ThinkAdvisor information including continuing education articles and quizzes, Fact Sheets, Investing Guides, educational webcasts and videos, resources from industry leaders, and informative eNewsletters. Exclusive discounts on ALM and ThinkAdvisor events. Access to other award-winning ALM publications including LifeHealthPro.com, GlobeSt.com and Law.com.