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Article: Legg Mason to Become 'Pure Play' Global Asset Manager with Over $830 Billion Under Management.
- Article from:
- PR Newswire
- Article date:
- June 24, 2005
CopyrightCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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- Agrees to Acquire Citigroup's Asset Management Business in Exchange for Legg Mason's Broker-Dealer Business, Plus Other Considerations -
- Also Agrees to Acquire The Permal Group, One of the World's Largest Managers of Funds of Hedge Funds -
- Both Transactions are Expected to be GAAP EPS Accretive as well as Highly Cash EPS Accretive in First Year -
- Legg Mason Will Become the 5th Largest Money Manager Operating in the U.S., the 5th Largest U.S. Mutual Fund Manager, One of the 5 Largest Funds-of-Hedge-Funds Managers, and the Largest Pure Fixed Income Manager -
- Also Signs 3-Year Global Distribution Agreement with Citigroup, ...