Financial Engines To Be Acquired By Hellman & Friedman In $3.02 Bln Deal

(RTTNews) - Investment advisor Financial Engines, Inc. (FNGN) said it has agreed to be acquired by funds affiliated with private equity investment firm Hellman & Friedman or H&F in an all-cash transaction that values Financial Engines at an aggregate value of about $3.02 billion.

Under the terms of the deal, Financial Engines shareholders will receive $45.00 per share in cash upon the closing of the transaction. The price per share represents more than a 32 percent premium above Financial Engines' closing share price of $33.95 on April 27, 2018.

The deal has been unanimously approved by Financial Engines' board of directors. The transaction, which is expected to close in the third quarter of 2018, is subject to approval by Financial Engines stockholders.

As part of the transaction, Edelman Financial Services, an independent financial planning and investment management firm, will be combined with Financial Engines. H&F owns a majority interest in Edelman.

With $169 billion in assets under management, more than 750 of America's employers and largest recordkeepers trust Financial Engines to help over ten million employees with more than $1 trillion in assets to save and invest for retirement.

Edelman is an independent financial planning firm that manages more than $21.7 billion for more than 35,000 clients across the country.