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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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December 19, 2014
18:17 EDTLMLegg Mason approved Trian to purchase 13% after Peltz exited board
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December 10, 2014
08:00 EDTLMLegg Mason reports preliminary November assets under management of $707.4B
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