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Article: Legg Mason Inc. acquires Western Asset Management Co. from First Interstate Bancorp.
- Article from:
- PR Newswire
- Article date:
- January 2, 1987
CopyrightCOPYRIGHT 1987 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, Jan. 2 /PRNewswire/ -- Legg Mason Inc. (NYSE: LM) announced it completed the acquisition of Los Angeles-based Western Asset Management Co. from a unit of First Interstate Bancorp at a price of approximately $20 million.
Legg Mason and First Interstate had announced an agreement in principle regarding this transaction on Dec. 3, 1986, and closing occured on Dec. 31, 1986.
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 Asset's investment performance over the past 10 years places ...