Tag: Franklin Resources

Legg Mason to be acquired by California-based Franklin Resources

The Legg Mason Tower in Harbor East. Image via Wikimedia Commons.

Baltimore-based investment manager Legg Mason will be acquired by the California firm Franklin Resources for $4.5 billion as part of an all-cash deal, both companies announced this morning.

The San Mateo, California-based Franklin Resources, more commonly known in the marketplace as Franklin Templeton Investments, will pay $50 per share to acquire Legg Mason and take on $2 billion of the company’s debt.