One day after Legg Mason
an insider to the position of CEO, the Baltimore-based asset manager's chairman reiterated that a private equity buyout was unlikely, reported the Wall Street Journal
Chairman W. Allen Reed
said that the talk of a buyout "comes from people that donít have a very good understanding of how this company operates," in a WSJ interview
He didn't completely kill the idea, though, noting that Legg "will always consider all options."
Reporter Mia Lamar noted one analyst who says the appointment of new CEO Joe Sullivan
makes a buyout even more unlikely.
For more details, check out the original article here
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