- 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)