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February 14, 2013
07:21 EDTLMLegg Mason buyout less likely, WSJ reports
Legg Mason (LM) “never considered” a private-equity buyout, says Chairman W. Allen Reed, reports the Wall Street Journal. The firm formally named interim CEO Joseph Sullivan to the firm’s top position yesterday. In an interview, Reed said the buyout chatter “comes from people that don’t have a very good understanding of how this company operates,” adding that the company’s model as head of a network of investment subsidiaries would make dismantling Legg Mason “a very difficult thing to do” without destroying shareholder value. The elevation of a company insider, who appears committed to the company’s multi-manager model, in itself lessens the likelihood of a PE buyout.Reference Link
News For LM From The Last 14 Days
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April 23, 2015
07:03 EDTLMCapital Link to hold a forum
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April 13, 2015
07:57 EDTLMLegg Mason reports assets under management $702.7B as of March 31
Legg Mason reported preliminary assets under management of $702.7B as of March 31. This month's AUM included preliminary long-term inflows of $2.6B driven by fixed income inflows of $3.9B. Equity and Liquidity outflows were $1.3B and $6.5B, respectively. March AUM included a negative foreign exchange impact of $3.2B.

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