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Stock Market & Financial Investment News

News Breaks
February 20, 2014
08:08 EDTLTMLife Time Fitness says Eric Buss to assume role of interim CFO, effective Mar. 2
As announced on August 27, 2013, Michael Robinson plans to retire as executive vice president and CFO a 12-year tenure with the company. The effective date of this transition is March 1, 2014. The company plans to retain Robinson as an employee or consultant for a period of time thereafter. Effective March 2, Eric J. Buss, who currently serves as executive vice president, will assume the additional role of interim CFO. Buss joined Life Time in September 1999 as vice president of Finance and general counsel.
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April 14, 2015
16:17 EDTLTMLife Time Fitness announces early termination of HSR waiting period
Life Time Fitness announced that it has received early termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to its proposed acquisition by affiliates of Leonard Green & Partners and TPG. As previously announced on March 16, the company has entered into a definitive merger agreement under which affiliates of Leonard Green & Partners and TPG will acquire Life Time in a transaction valued at more than $4B. Other key investors include LNK Partners and Life Time chairman, president and CEO, Bahram Akradi, who will remain in his role and has committed to make a rollover investment of $125 million in Life Time common stock. Under the terms of the merger agreement the investors will acquire all of the outstanding shares of Life Time Fitness common stock for $72.10 per share in cash. The merger is subject to approval from Life Time’s shareholders and other customary closing conditions. The transaction is currently expected to close in Q3.

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