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Stock Market & Financial Investment News

News Breaks
March 4, 2014
07:02 EDTLMLegg Mason acquires QS Investors, terms not disclosed
Legg Mason announced a definitive agreement to acquire QS Investors, a leading customized solutions and global quantitative equities provider based in New York, with $4.1B in assets under management and nearly $100B in assets under advisory. Legg Mason's existing quantitative equity platform, Batterymarch Financial Management, and Legg Mason Global Asset Allocation, its existing solutions platform, will be integrated over time into QS Investors as a result of this transaction. The acquisition is expected to close in the 1Q15. The acquisition and combination transaction is expected, excluding restructuring and transition costs, to be modestly accretive to Legg Mason's earnings in the first year. In connection with the combination of the businesses, Legg Mason expects to incur restructuring and transition costs of approximately $35M, including $3M in the March quarter and $30M in FY15. Terms of the transaction were not disclosed.
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July 24, 2014
08:32 EDTLMLegg Mason acquires Martin Currie
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July 11, 2014
07:56 EDTLMLegg Mason reports assets under management $704B as of June 30
This month's AUM included fixed income inflows of approximately $500M, equity outflows of approximately $200M and liquidity inflows of $9.6B. June AUM included a positive foreign exchange impact of approximately $1B.

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