UPDATE 3-Franklin Resources to buy Legg Mason in union of active management ‘believers’
Asset manager Franklin Resources Inc
said on Tuesday it would buy rival Legg Mason Inc
in a $4.5 billion deal as the two firms known for their
stockpicking grapple with investors’ embrace of low-cost index
tracking funds.
said on Tuesday it would buy rival Legg Mason Inc
in a $4.5 billion deal as the two firms known for their
stockpicking grapple with investors’ embrace of low-cost index
tracking funds.
Posted by Reuters
