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Article: Legg Mason Inc. to acquire Western Asset Management Co.
- Article from:
- PR Newswire
- Article date:
- December 3, 1986
CopyrightCOPYRIGHT 1986 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, Dec. 3 /PRNewswire/ -- Legg Mason, Inc. (NYSE: LM) and First Interstate Bancorp of Los Angeles announced today that they have reached an agreement in principle whereby Legg Mason, Inc. will acquire Western Asset Management Co., a subsidiay of First Interstate Bank Ltd.
Western Asset Management Co. is a leading investment adviser specializing in the management of fixed-income assets for institutional clients. It currently has more than $3.5 billion under management. Western Assets investment performance over the past 10 years places it in the top quartile among fixed-income managers.
Legg Mason, through its subsidiaries, has approximately ...