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Article: Legg Mason, Citigroup nearing end of division-swapping talks, analysts say.
- Article from:
- The Baltimore Sun (Baltimore, MD)
- Article date:
- June 23, 2005
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Byline: Laura Smitherman
Jun. 23--Legg Mason Inc. and Citigroup Inc. appear to be in the final stages of negotiations over swapping divisions that would be carved from both financial companies, Wall Street analysts and industry experts said.
The companies have reportedly been in talks for several weeks, although tight-lipped officials with Legg Mason and Citigroup have declined to comment publicly. The situation has left employees, clients and shareholders on tenterhooks.
Some observers say they are confident a deal is near fruition. It would be the largest ever undertaken by Legg Mason and could mean the Baltimore-based firm more than doubles ...