Franklin Templeton to acquire Legg Mason in all-cash deal of $4.5bn

Franklin Resources, a global investment management organisation operating as Franklin Templeton, has entered into a definitive agreement to acquire Legg Mason for $50.00 per share of common stock in an all-cash transaction. The company will also assume approximately $2bn of Legg Mason's outstanding debt. The acquisition of Legg Mason will create $1.5trn in assets under management (AuM) across one of the broadest ranges of high-quality investment teams in the industry. The combined footprint of the organisation will significantly deepen Franklin Templeton's presence in key geographi...