Something may be up with Legg Mason (LM +2.5%), speculates Susquehanna's Doug Sipkin, after the...


Something may be up with Legg Mason (LM +2.5%), speculates Susquehanna's Doug Sipkin, after the company confirms a $734M charge for asset write-downs and preps an exchange offer for certain of its notes. The firm has been a frequent focus of takeover talk. "While we remain bearish, we do acknowledge the odds of some sort of corporate action are increasing," says Sipkin.

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