A buyout of Legg Mason (LM) is an unlikely prospect say both Citi's William Katz and Nomura's...


A buyout of Legg Mason (LM) is an unlikely prospect say both Citi's William Katz and Nomura's Glenn Schorr, following yesterday's report the board was approached about such. Too complex a transaction, says Katz, who believes CEO Fetting departed only after it became clear a buyout wasn't a possibility. Schoor focuses on the level of debt: Too high to allow an LBO.

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