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Article: Legg Mason Launches $1 Billion Equity Units Offering.
- Article from:
- PR Newswire
- Article date:
- May 6, 2008
CopyrightCOPYRIGHT 2008 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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BALTIMORE, May 6 /PRNewswire-FirstCall/ -- Legg Mason, Inc. today announced that it plans to offer and sell 20 million equity units, each with a stated amount of $50 for an aggregate stated amount of $1 billion. Legg Mason plans to grant the underwriters for the equity units offering an option to purchase during the 13-day period beginning on, and including, the initial issuance date of the equity units up to 3 million additional equity units, or an additional aggregate stated amount of $150 million, solely to cover over-allotments. The equity units will initially consist of a contract to purchase Legg Mason common stock and a 1/20, or 5.0%, undivided beneficial ...