Franklin Templeton buys Legg Mason in $4.5bn deal
The combined asset manager will have $1.5-trillion in assets
18 February 2020 - 19:55
New York — US fund manager Franklin Templeton and Legg Mason helped pioneer asset management in the 20th century. On Tuesday, the venerable but fading names said they will combine in an effort to compete, as low-cost index funds upend their industry.
In an era when traditional stock-pickers are under intensifying pressure, San Mateo, California-based Franklin agreed to buy Legg Mason to create a firm with a combined $1.5-trillion in assets...
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