Edelman Financial (EF) Holders Agreement to Lee Equity Partners Merger
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The Edelman Financial Group Inc. (NASDAQ: EF) announced that its shareholders today voted to adopt the previously announced merger agreement with an affiliate of Lee Equity Partners, LLC ("Lee Equity"), a New York private equity firm.
The parties intend to consummate the merger on September 19, 2012. Upon consummation of the merger, TEFG shareholders will receive $8.85 in cash for each share of TEFG common stock. At the completion of the transaction, TEFG will become a privately held company and its stock will no longer trade on the Nasdaq Stock Market.
Based on a preliminary vote count, the adoption of the merger agreement was approved by over 95% of the Company's shares of common stock that were voted and by approximately 74% of the Company's outstanding shares of common stock not held by members of management and affiliates of Lee Equity. Approximately 85% of the eligible shares were voted at the meeting.
Following the closing of the merger, shareholders of record will receive a letter of transmittal and instructions on how to submit The Edelman Financial Group stock in exchange for the $8.85 per share merger consideration. Shareholders should wait to receive such documents before attempting to transmit any certificates.
The parties intend to consummate the merger on September 19, 2012. Upon consummation of the merger, TEFG shareholders will receive $8.85 in cash for each share of TEFG common stock. At the completion of the transaction, TEFG will become a privately held company and its stock will no longer trade on the Nasdaq Stock Market.
Based on a preliminary vote count, the adoption of the merger agreement was approved by over 95% of the Company's shares of common stock that were voted and by approximately 74% of the Company's outstanding shares of common stock not held by members of management and affiliates of Lee Equity. Approximately 85% of the eligible shares were voted at the meeting.
Following the closing of the merger, shareholders of record will receive a letter of transmittal and instructions on how to submit The Edelman Financial Group stock in exchange for the $8.85 per share merger consideration. Shareholders should wait to receive such documents before attempting to transmit any certificates.
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