Shares of Life Time Fitness Inc. rallied 5.6% in premarket trade Monday, after the health and fitness company said it agreed to be acquired by affiliates of private investment firms Leonard Green & Partners and TPG in a deal valued at more than $4 billion. Other key investors include LNK Partners and Lift Time Chief Executive Bahram Akradi. Under terms of the deal, Life Time shareholders will receive $72.10 in cash for each Life Time share they own. That represents a 7.3% premium to Friday's closing price of $67.20. The deal is expected to close in the third quarter. Akradi, who will remain in his role as CEO, president and chairman, has committed to making a rollover investment of $125 million in Life Time stock. The shares have run up 19% so far this year, while the S&P 500 has slipped 0.3%.
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