Private equity firms Leonard Green & Partners and TPG Capital agreed to buy Life Time Fitness Inc. in a transaction valued at more than $4 billion, one of the biggest buyouts of the year.

The investor group, which also includes LNK Partners and Life Time’s chief executive officer, Bahram Akradi, will pay $72.10 a share in cash for the Chanhassen, Minnesota-based company, according to a statement Monday. The price reflects a 73 percent premium to the closing price on Aug. 22, before Life Time said it was considering its strategic options.

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