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Stock Market & Financial Investment News

News Breaks
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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August 26, 2015
07:39 EDTLMPiper Jaffray lowers estimates for asset managers below consensus
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August 14, 2015
17:21 EDTLMTrian Fund gives quarterly update on stakes
NEW STAKES: Pentair (PNR), and Sysco (SYY). INCREASED STAKES: Mondelez (MDLZ), and Tiffany & Co (TIF). DECREASED STAKES: Legg Mason (LM), Wendy's (WEN), and Ingersoll-Rang (IR). LIQUIDATED STAKES: Allegion (ALLE).

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