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Rating:Is a Buyout in the Cards for Legg Mason? Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, September 22, 2008

Is a Buyout in the Cards for Legg Mason?

by: Erin Kello

Legg Mason may be considering taking itself private, The New York Post reports. The pub says that Legg is mulling a buyout that would take it private, possibly by a private equity firm. Kohlberg Kravis Roberts & Co, a name that was banded about in reports on the impending Neuberger Berman sale, was mentioned by the pub as a possible buyer. However, a sale may not be a foregone conclusion for the firm, as a source told the Post that there are still many obstacles to a successful deal. A spokesperson for Legg told the pub that the rumors that it was in talks to go private were "categorically untrue."

Legg has not had an easy path of late. It had to inject capital into several of its money market funds to keep them from breaking the buck. Also, Bill Miller, it star fund manger, has seen his once impressive track record fall to earth. 

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