Gym operator Life Time Fitness Inc said it would be taken private by Leonard Green & Partners and TPG in a deal valued at over $4 billion.The offer of $72.10 per share represents a 7.3 percent premium to Life Time's Friday close. The company's shares were trading at $70.52 before the opening bell on Monday.Life Time said last August said it was exploring a potential conversion of its property into a real-estate investment trust.Since then the company's shares have risen 62 percent even as the company reported lower-than-expected profit for the last three quarters.
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 remained unchanged at $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 108806.
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