Life Time Fitness (LTM) Jumps After Fund Accumulates 9% Stake and May Seek Going-Private Talks
More News related to LTM
- Life Time Fitness to Unveil Newly Remodeled and Expanded Highland Park Center on Friday, November 20
- 2010 IR Global Rankings: Invitation for Investors and Analysts Vote for Companies with the Best IR Program and for the Best IR Officer
- Don't Miss Out! The Registration Period for the 2010 IR Global Rankings Ends TOMORROW!
- Time Is Running Out to Have Your IR Program Independently Evaluated!
- Last Week to Register for the 2010 IR Global Rankings
More News related to Rumors
- GE (GE) Said to Restart NBC Universal Acquisition Talks -WSJ
- Citron Research issues negative report on higher-flyer Origin Agritech Limited (SEED)
- Gold Higher On Reports India Could Buy the Rest of the IMF's Hoard (GLD)
Shares of Life Time Fitness, Inc. (NYSE: LTM) are jumping 20% today following a 13D after the close from Green Equity Investors showing a new 9.2% stake (3,632,408 shares) in the operators of fitness centers. Green Equity Investors is an affiliate of $9 billion private equity firm Leonard Green & Partners, L.P.
Data from the filing showed the firm paid $53,539,538 for their position in Life Time Fitness, which equals about $14.74 per share. Data from the filing showed that the group was buying large amounts of stock in mid-October and November. With today's pop, Life Time Fitness is currently around $11 per share, up from a recently-set 52-week low of $8.03.
In the filing, the group noted that they have had general, informal discussions with the company's management and said they may also hold future more specific and substantive talks. The firm said these discussions may include a “going-private” transaction, refinancing of existing indebtedness or new financings (potentially through mortgage financings, sale leaseback transactions, a PIPE transaction or other debt or equity investment), strategic acquisitions, divestitures, joint ventures or other similar transactions. The firm also said it may seek representation on the company's board of directors.
Shares of Life Time Fitness fell 19% last Thursday after an extremely bearish piece on the company from Citron Research. Data from the filing showed Green Equity Investors was buying stock on that day.
Related Categories
13DsInsiders' Blog
Rumors
Stocks Mentioned
+0.13Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
