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Legg Mason (LM) plans to buy back $1.25B of convertible senior notes that KKR (KKR +0.4%)...

Legg Mason (LM) plans to buy back $1.25B of convertible senior notes that KKR (KKR +0.4%) purchased in 2008. Legg Mason will take non-cash charge of $70M-$80M in FQ1 for the early extinguishment of the notes. The company also intends to repurchase $1B in shares. Shares +11.3%. (PR)
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