Moody's reviews Legg Mason's ratings for upgrade based on planned acquisition by Franklin Resources
Rating Action: Moody's reviews Legg Mason's ratings for upgrade based on planned acquisition by Franklin Resources. Global Credit Research- 19 Feb 2020. New York, February 19, 2020-- Moody's Investors Service, has placed the ratings of Legg Mason, Inc on review for upgrade following the company's announcement that it has entered into a definitive agreement to be acquired by Franklin Resources, Inc. for approximately $4.5 billion in cash and the assumption of $2.0 billion of Legg...Legg Mason is a holding company. Through its subsidiaries, the company is an asset management company that provides investment management and related products and services. The company's investment advisory services include discretionary and non-discretionary management of separate investment accounts for institutional and individual investors. The company's investment products include proprietary mutual funds ranging from money market and other liquidity products to fixed income, equity and alternative funds managed in various investment styles. The company also provides other domestic and offshore funds to both retail and institutional investors, privately placed real estate funds, hedge funds, and funds-of-hedge funds.
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