Franklin Templeton closes on Legg Mason deal

Jul. 31, 2020 5:07 PM ETFranklin Resources, Inc. (BEN), LMLM, BENBy: Liz Kiesche, SA News Editor3 Comments
  • Franklin Resources (NYSE:BEN), which operates as Franklin Templeton, completes its previously announced acquisition of Legg Mason (NYSE:LM), as expected.
  • The combined organization makes Franklin Templeton one of the world's largest independent, specialized global investment managers with a combined $1.4T in assets under management, the company said.
  • The acquisition deepens Franklin Templeton's presence in key geographies and creates an investment platform that's well balanced between institutional and retail client AUM.
  • "This acquisition unlocks substantial value and growth opportunities driven by greater scale, diversity and balance across investment strategies, distribution channels and geographies," said Franklin Templeton President and CEO Jenny Johnson.
  • Previously: Franklin Templeton to pay $4.5B for Legg Mason (Feb. 18)

Recommended For You

Comments (3)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.