Article: Legg Mason Closes Acquisition of Private Capital Management.

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 ...

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