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Life Time Fitness completes acquisition by Affiliates of Leonard Green & Partners and TPG

Life Time Fitness has completed its acquisition by an investor group led by affiliates of Leonard Green & Partners and TPG. 

The execution of a definitive merger agreement outlining the terms of the transaction was initially announced on 16 March, 2015. Other key investors include LNK Partners and Life Time Chairman, President and Chief Executive Officer, Bahram Akradi.

Life Time’s shareholders approved the acquisition on Thursday, 4 June, 2015. As a result of the merger, which is valued at more than USD4 billion, each outstanding share of Life Time common stock, excluding the rollover investment in Life Time stock made by Akradi, was converted into the right to receive USD72.10 per share in cash. Additionally, Life Time has become an indirect, wholly owned subsidiary of affiliates of Leonard Green & Partners and TPG, and the other investors.

Life Time common stock (LTM) ceased trading on the New York Stock Exchange at the close of market today.

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