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Monday, March 16, 2015

Life Time Fitness to be taken private for more than $4 bln, (NYQ: LTM)

Gym operator Life Time Fitness Inc said it would be taken private by Leonard Green & Partners and TPG in a deal valued over $4 billion. The $72.10 per-share deal represents a 7.3 percent premium to Life Time's Friday close.

Life Time Fitness, Inc., operates multi-use sports and athletic, professional fitness, family recreation and spa centers in a resort-like environment. Shares of LTM traded higher by 0.7% or $0.47/share to $67.20. In the past year, the shares have traded as low as $38.01 and as high as $69.13. On average, 316752 shares of LTM exchange hands on a given day and today's volume is recorded at 434769.