Legg Mason Acquired by Franklin Templeton

Legg Mason was acquired by Franklin Templeton in 2020. This marked a significant shift in the company's history.

The acquisition was a result of a long process, and it was finalized on August 17, 2020. Franklin Templeton agreed to pay $4.5 billion to acquire Legg Mason.

Legg Mason's assets under management (AUM) were around $754 billion at the time of the acquisition. This made it one of the largest asset management companies in the world.

The acquisition was seen as a strategic move by Franklin Templeton to expand its presence in the global asset management market.

Legg Mason's valuation has been quite volatile over the years, with a capitalization that has fluctuated between 3.58B and 49.46B.

The company's P/E ratio has also experienced a significant change, dropping from 71.4x in 2019 to 17.5x in 2020.

Enterprise value has also seen a considerable swing, ranging from 4.44B to 61.37B.

In terms of valuation multiples, EV / Sales has moved from 1.16x in 2019 to 1.83x in 2020.

Here's a breakdown of Legg Mason's valuation metrics:

Legg Mason's free float is not available, but its yield has dropped from 4.97% in 2019 to 3.28% in 2020.

Legg Mason has been in the news lately, and we've got the scoop. The company's Royce Fund announced that its last remaining series approved a new investment advisory agreement at a special meeting on September 11, 2020.

Legg Mason also released a client letter from Jenny Johnson on July 31, 2020, which we're sure was a relief to many investors.

The company's financials have been a topic of interest, with the termination of a material definitive agreement and completion of acquisition or disposition of assets on July 31, 2020.

A significant change occurred on the same day, as Franklin Templeton completed its acquisition of Legg Mason.

In its 10-Q filing, Legg Mason provided its management's discussion and analysis of financial condition and results of operations on July 31, 2020.

Legg Mason has a strong management team in place, led by CEO Matthew Nicholls, who has been at the helm since July 30, 2020, at the age of 52.

Matthew Nicholls also serves as a Director/Board Member, having been appointed to this role on the same day as his CEO position.

Gwen Shaneyfelt, the Director of Finance/CFO, is another key member of the team, with over 62 years of experience and a tenure that began on July 30, 2020.

Gwen Shaneyfelt, like Matthew Nicholls, also serves as a Director/Board Member, highlighting the importance of her role within the company.

Alexander Barry, a Corporate Officer/Principal, rounds out the Director team, although his age and tenure are not publicly disclosed.

Craig Tyle, a seasoned professional with 65 years of experience, has also been appointed as a Director/Board Member, joining Matthew and Gwen in this capacity.

Legg Mason is a leading global asset management firm with a long history of innovation and expertise. The company was founded in 1899 and has since grown to become one of the largest asset managers in the world.

With over $700 billion in assets under management, Legg Mason has a significant presence in the global investment market. Its diverse range of investment products and services cater to a wide range of clients, from individual investors to institutional clients.

Legg Mason's investment approach is guided by a team of experienced portfolio managers who use a variety of investment strategies to achieve their clients' goals. The company's investment products are designed to provide investors with access to a range of asset classes and geographic regions.

Legg Mason has a strong presence in the US investment market, with a significant presence in the mutual fund industry. The company's flagship mutual fund, the Legg Mason Value Trust, has been a top performer in its category for many years.

Despite its size and reputation, Legg Mason remains committed to its core values of innovation, integrity, and client service. The company's focus on delivering exceptional investment results and exceptional client service has earned it a reputation as a trusted and respected leader in the global investment industry.

Legg Mason has been involved in some significant mergers and acquisitions.

The company's acquisition by Franklin Templeton was announced on July 31, 2020, and valued Legg Mason at $50 per share, a 23% premium to its previous share price.

Franklin will assume about $2 billion in Legg Mason debt as part of the deal.

Here's a brief summary of the key points in the acquisition: