A merger of asset management titans may be just ten days from the finish line. Perhaps it's almost time to meet Franklin Legg Templeton Mason? Well, yes, but probably not with that name.

Jennifer M. "Jenny" Johnson Franklin Resources, Inc. President, CEO

On Friday, the Franklin Resources (dba Franklin Templeton) team confirmed that their planned acquisition of Legg Mason is expected to close on July 31. (That's one week from this coming Friday.)

As the Legg and Franklin teams revealed back in February, Franklin is paying $50 per Legg share, in cash, and assuming about $2 billion in outstanding Legg debt. The cash went into a third-party escrow account last Friday.

Based on June 30 numbers from San Mateo, California-based Franklin and Baltimore-based Legg, the combined firm would have about $1.3935 trillion in AUM. $646.1 billion (46.4 percent) of that would be in fixed income, $412 billion (29.6 percent) in equities, $131.3 billion (9.4 percent) in multi-asset or balanced strategies, $123.4 billion (8.9 percent) in alternatives, and $80.7 billion (5.8 percent) in cash management.

Oh, and Friday's update did not include any branding information changes. When the deal was revealed back in February, the plan was for the combined firm to stick with the Franklin Templeton brand and with San Mateo as its headquarters. 

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