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Legg Mason Inc (LM.N)

LM.N on New York Stock Exchange

33.11USD
22 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Legg Mason reports preliminary AUM of $741.9 bln for June
Wednesday, 13 Jul 2016 08:00am EDT 

Legg Mason Inc : Legg Mason reports assets under management and flows for June 2016 . Reported preliminary assets under management of $741.9 billion as of June 30, 2016. . Month's AUM included long-term inflows of $0.6 billion, driven by fixed income inflows of approximately $2.0 billion .June month's AUM included a positive foreign exchange impact of approximately $3 billion.  Full Article

Legg Mason says May preliminary AUM $717.8 billion
Friday, 10 Jun 2016 08:00am EDT 

Legg Mason Inc : Reported preliminary assets under management of $717.8 billion as of May 31, 2016. .Legg Mason reports assets under management and flows for May 2016.  Full Article

Legg Mason Inc announces pricing of senior notes offering
Thursday, 17 Mar 2016 05:06pm EDT 

Legg Mason Inc:Priced its underwritten public offering of $450.0 million of Senior Notes due 2026 at a price equal to 99.954% of par.Offering is expected to close on March 22.Mason plans to use net proceeds to finance the purchase prices for the previously announced acquisitions of Clarion Partners and EnTrust Capital and to pay fees and expenses related to these acquisitions.  Full Article

Legg Mason Inc declares dividend
Friday, 22 Jan 2016 07:00am EST 

Legg Mason Inc:Declared a quarterly cash dividend on its common stock in the amount of $0.20 per share.Dividend is payable April 11, 2016 to shareholders of record at the close of business on February 10, 2016.  Full Article

Legg Mason announces acquisition of Clarion Partners
Friday, 22 Jan 2016 06:30am EST 

Legg Mason Inc:Announced that it has agreed to acquire a majority equity interest in Clarion Partners.Under the terms of the transaction, Legg Mason will acquire an 83% ownership stake in Clarion Partners for $585 million.In addition, Legg Mason will pay for its portion of certain co-investments on a dollar for dollar basis, estimated at $16 million as of December 31, 2015.Deal is expected to close in the second calendar quarter of 2016.RBC Capital Markets and Azrack & Company served as financial advisors to Legg Mason.  Full Article

Legg Mason announces strategic investment in Precidian Investments
Friday, 22 Jan 2016 06:30am EST 

Legg Mason Inc:Announced that it has acquired a minority equity position in Precidian Investments.Under the terms of the transaction, Legg Mason purchased a new class of preferred equity, entitling Legg Mason to the rights of a holder of 19.9% of common equity.Other terms of the transactions were not disclosed.  Full Article

Legg Mason announces combination of EnTrust Capital and Permal Group
Friday, 22 Jan 2016 06:30am EST 

Legg Mason Inc:Entered into a definitive agreement to combine Permal, Legg Mason's existing hedge fund platform, with EnTrust Capital.As a result of the combination, Legg Mason will own 65% of the new entity, branded EnTrustPermal, with 35% being owned by Gregg S. Hymowitz, EnTrust's Co-founder and Managing Partner.EnTrustPermal will be led by Hymowitz, who will become the Chairman and Chief Executive Officer of EnTrustPermal.Combination is expected to close in mid-2016.Transaction is expected to be modestly accretive to Legg Mason's earnings in the first year.Legg Mason expects EnTrustPermal to achieve cost savings of approximately $35-$40 million per year.Morgan Stanley & Co. LLC has acted as financial advisor to Legg Mason in connection with this transaction.  Full Article

Legg Mason Inc declared quarterly cash dividend
Friday, 31 Jul 2015 07:00am EDT 

Legg Mason Inc:Has declared quarterly cash dividend on company's common stock in amount of $0.20 per share.Dividend is payable Oct. 26 to shareholders of record at close of business on Oct. 8.  Full Article

Legg Mason announces acquisition of RARE Infrastructure Limited
Tuesday, 28 Jul 2015 06:54pm EDT 

Legg Mason:Agreed to acquire a majority equity interest in RARE Infrastructure, Ltd., (RARE) a pioneer in global listed infrastructure investing headquartered in Sydney, Australia.Acquisition expands Legg Mason's offerings in equity liquid alternative investments, adding an experienced manager in a high-growth asset class.Transaction is expected to be accretive to earnings on a GAAP and adjusted net income basis in the first year after closing, which is expected in the 4thcalendar quarter of 2015.Under the terms of the transaction, Legg Mason will acquire a 75% ownership stake, the firm's management team will retain a 15% equity stake and The Treasury Group, a previous minority owner, will retain 10%.RARE will operate as a core independent investment affiliate along with Brandywine Global, ClearBridge Investments, Martin Currie, the Permal Group, QS Investors, Royce and Associates, and Western Asset Management.  Full Article

Legg Mason Inc declares dividend
Friday, 1 May 2015 06:59am EDT 

Legg Mason Inc:Has declared a quarterly cash dividend on the company's common stock in the amount of $0.20 per share.This represents an increase of 25 pct on the dividend rate paid on shares of the company's common stock during the prior fiscal quarter.The dividend is payable July 13, to shareholders of record at the close of business on June 16.  Full Article

BRIEF-Legg Mason CEO Joseph Sullivan's FY 2016 total compensation $10.2 mln - SEC filing

* CEO Joseph Sullivan's FY 2016 total compensation was $10.2 million versus $10.6 million in FY 2015 - SEC filing