Article: Legg Mason Prices Offering of $1 Billion of Equity Units.

BALTIMORE, May 7 /PRNewswire-FirstCall/ -- Legg Mason, Inc. today announced that it has priced its offering of 20 million equity units, each with a stated amount of $50 for an aggregate stated amount of $1 billion. The equity units carry a total distribution rate of 7%, and the threshold appreciation price of the equity units is $67.56, which represents a premium of 20% over the closing price of Legg Mason's common stock of $56.30 on May 6, 2008. Legg Mason has granted 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, ...

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