Life Time Fitness (LTM) now trades at $71.86. The company’s board unanimously agreed to be taken private at $72.10 a share in cash. The merger is expected to close on June 10th. It is now May 19th. So, I’m going to call this one effectively over as a public company.
Quan and I did an issue on Life Time Fitness for Singular Diligence (back when it was called The Avid Hog) in November 2013. The stock price was then $48.51 a share. We appraised it at $79.69 per share.
With the stock trading right below the going private price – the value’s been fully sucked out of this idea.
So, we might as will give the issue away now.