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Article: Legg Mason Closes Acquisition of Private Capital Management.
- Article from:
- PR Newswire
- Article date:
- August 1, 2001
CopyrightCOPYRIGHT 2001 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, Aug. 1 /PRNewswire/ --
Legg Mason, Inc. (NYSE: LM) announced today that it has closed its acquisition of Private Capital Management, L.P., a leading high net worth money manager with $8.6 billion under management as of June 30, 2001. The signing of the definitive purchase agreement to acquire PCM in a cash transaction was announced on May 29, 2001. As previously announced, PCM will be a wholly owned subsidiary of Legg Mason and will continue to be managed by its two ...