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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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January 30, 2015
07:00 EDTLMLegg Mason reports new $1B share repurchase authorization
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06:59 EDTLMLegg Mason reports Q3 EPS 67c, consensus 67c
Reports Q3 revenue $719B, consensus $714.34M. Reports Q3 adjusted EPS 98c. Reports Q3 AUM $709B.
January 29, 2015
15:37 EDTLMNotable companies reporting before tomorrow's open
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