MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, June 22, 2005 Details on the Citigroup, Legg Mason Deal The rumored swap between Citigroup's asset management unit for Legg Mason's brokerage is close to happening, reports Bloomberg. The deal, which is valued at $4 billion, would make Legg Mason the fifth largest asset manager with approximately $830 billion in assets. Citigroup would gain Legg Mason's 1,540-strong brokerage force, upping its brokerage to 13,800. Additionally, people familiar with the talks tell Bloomberg that Citigroup would get a 15 to 20 percent share of Legg Mason, as well as $1 billion in cash. The negotiations are reportedly down to Citigroup's cash and Legg Mason stake. Printed from: MFWire.com/story.asp?s=9942 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |