Legg Mason had 2018 revenue of $2.9 billion and their 3 quarters to date in 2019 showed flat revenues. THE WHAT

Legg Mason Inc. will be acquired by Franklin Resources Inc. in a $4.5 billion deal that will create the world's largest asset management company. Franklin Resources has confirmed it is in the process of acquiring rival asset management company Legg Mason, in a deal that would boost its assets under management to $1.5tn.

Under the terms of the deal, Franklin Resources will purchase Legg Mason, which owns nine investment firms in its multi-affiliate model, in an all-cash offer of $4.5bn. Franklin Resources announced Tuesday a deal to buy rival asset manager Legg Mason, a tie-up that could help each navigate a worldwide shift in investor preference away … Including $2 billion in Legg Mason debt, … Why Legg Mason, Franklin Resources, and Front Yard Residential Stocks All Just Popped More Than 10% Franklin Resources Inc. (BEN) Q1 2020 Earnings Call Transcript Franklin Resources … By Nicole Piper , Alex Steger 18 Feb, 2020 And Franklin Resources and Legg Mason recently announced they were merging in a $4.5 billion deal. The aggregate deal consideration remains unchanged at $531.04 billion as no new deals were announced.

(Bloomberg) -- Franklin Resources Inc. and Legg Mason Inc. helped pioneer asset management in the 20th century. Franklin Resources announced they are acquiring Legg Mason which will create an investment management firm with revenues approaching $9 billion annually.. Franklin Resources revenue for FY19 (their FY ends in September) was $5.7 billion. Franklin Resources Inc. announced Tuesday that it has entered into a definitive agreement to acquire Legg Mason, Inc. for $50 per share, or about $4.5 billion, in an all-cash deal and that it would assume approximately $2 billion of Legg Mason's outstanding debt, according to Bloomberg, confirming an earlier leak from the WSJ.FRANKLIN TEMPLETON TO BUY LEGG MASON FOR $50.00/SHR Today, Franklin Templeton and Legg Mason announced they have entered into a definitive merger agreement under which Franklin Templeton will acquire Legg Mason in an all-cash transaction valued at approximately US$4.5 billion, or $50.00 per share of common stock. Franklin Resources, Inc. (NYSE:BEN) Q2 2020 Earnings Conference Call April 30, 2020, 11:00 AM ET Company Participants Gregory Johnson - Executive Chairman Jenni Franklin Resources announced Tuesday a deal to buy rival asset manager Legg Mason, a tie-up that could help each navigate a worldwide shift in investor preference away from active money management. Franklin Resources is in the process of acquiring rival asset manager Legg Mason, which would create a $1.5tn group. San Mateo, California-based Franklin Resources, known as Franklin Templeton, will pay $50 per share to buy Legg Mason in the all-cash transaction, which includes issuing about $2 billion of debt. The combination is expected to close by the third calendar quarter of 2020. Shareholders of Legg Mason approved the company’s merger with Franklin Resources. “We’re looking at everything,” said Mary Callahan Erdoes, Chief Executive Officer of J.P. Morgan Asset & Wealth Management at the event via Business Insider. Baltimore-based Legg Mason, which manages $803.5 billion, operates nine investment managers that do business under separate brands. 02-18 247wallst.com - Investment management firm Franklin Resources Inc. (NYSE: BEN) announced Tuesday that it has agreed to acquire Legg Mason Inc. (NYSE: LM) in an all-cash transaction valued at $50 per Legg Mason share. Here's what you need to know.