Franklin Resources — the asset management firm better known as Franklin Templeton — has agreed to purchase Legg Mason in an all-cash deal valued at $4.5 billion. The all-cash consideration of $4.5bn will be funded from Franklin Templeton’s existing balance sheet cash, it said. Franklin Resources Is Buying Legg Mason for $4.5 Billion.

Fund Industry Consolidation Continues. Both firms have seen their assets under management fall from their highs — Legg Mason’s peaked in 2007.

And Franklin Resources — a global investment management organization operating as Franklin Templeton — announced it has entered into a definitive agreement to acquire Legg Mason for $50 per share of common stock in an all-cash transaction. Franklin will assume about $2 billion in Legg Mason debt, according to the statement.

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Franklin will assume about $2bn in Legg Mason debt, according to the statement. Franklin to Buy Legg Mason in $4.5B Deal Combined, the two asset managers should have about $1.5 trillion in assets under management.

Franklin will assume about $2 billion in Legg Mason debt, according to the statement.

The offer also calls for Franklin to assume about $2 billion in Legg Mason’s outstanding debt. Both firms have seen their assets under management fall from their highs — Legg Mason’s peaked in 2007. US fund giant Franklin Templeton announced on Tuesday a deal to buy rival group Legg Mason and create a fund management behemoth with $1.5 trillion in assets. The agreement, under which Franklin Templeton will pay $50 per share of Legg Mason’s common stock, will create a new fund giant with a combined $1.5tn in assets. Franklin Resources Inc. and Legg Mason Inc. helped pioneer asset management in the 20th century.

Franklin Templeton will pay $50 (£38) per share, equating to £4.1bn, and also take over $2bn (£1.5bn) of Legg Mason’s debt. Offers may be subject to change without notice. With Legg Mason’s $806 billion worth of assets under management, the combined entity will manage $1.5 trillion across various regions globally. Franklin Templeton is also to assume around $2bn of Legg Mason’s outstanding …

On Tuesday, the venerable but fading names … Franklin Templeton said in a statement that it will pay $4.5 billion in cash and assume around $2 billion of Legg Mason’s outstanding debt to secure the deal. The all-cash consideration of $4.5bn will be funded from Franklin Templeton’s existing balance sheet cash, it said. US asset manager Franklin Templeton is to buy Legg Mason for $50 (€46) per share of common stock in an all-cash transaction, forming an asset manager with combined assets under management worth $1.5trn.

US asset manager Franklin Templeton is to buy Legg Mason for $50 (€46) per share of common stock in an all-cash transaction, forming an asset manager with combined assets under management worth $1.5trn. Franklin’s offer of $50 per share represents a premium of 23% to Legg Mason’s Friday close. Franklin Resources Inc. and Legg Mason Inc. helped pioneer asset management in the 20th century.

Franklin said in a press release that it agreed to acquire Legg Mason for $50 per share, or $4.5 billion, in an all-cash deal and that it would assume about $2 billion of debt as part of the purchase.


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