BALTIMORE, July 31, 2020 /PRNewswire/ -- Legg Mason,
Inc. (the "Company") today announced that following the completion
of its previously announced merger with Alpha Sub, Inc. ("Merger Sub"), a wholly owned
subsidiary of Franklin Resources, Inc. ("Franklin Templeton"), the Company has notified
the New York Stock Exchange ("NYSE") of its intention to delist its
6.375% Junior Subordinated Notes due 2056 (NYSE: LMHA) and 5.45%
Junior Subordinated Notes due 2056 (NYSE: LMHB) (collectively, the
"Junior Notes"), as well as to deregister the Junior Notes from
registration with the Securities and Exchange Commission (the
"SEC"). The Company has not made, and does not intend to
make, arrangements for the listing and/or registration of the
Junior Notes on another national securities exchange or for
quotation on another medium. These actions do not affect the
terms of the Junior Notes. The last day of trading of the
Junior Notes is expected to be August 20,
2020.
As previously announced, on February 17,
2020, the Company entered into an Agreement and Plan of
Merger (the "Merger Agreement") with Franklin Templeton and Merger Sub, pursuant to
which Franklin Templeton acquired
the Company on July 31, 2020.
The Company has decided to delist the Junior Notes in connection
with the closing of the transactions pursuant to the Merger
Agreement.
About Legg Mason
Guided by a mission of Investing to Improve Lives,™
Legg Mason helps investors globally
achieve better financial outcomes by expanding choice across
investment strategies, vehicles and investor access through
independent investment managers with diverse expertise in equity,
fixed income, alternative and liquidity investments.
Legg Mason's assets under management
are $783.4 billion as of June 30, 2020. To learn more, visit
our web site, our newsroom, or follow us
on LinkedIn, Twitter, or Facebook.
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SOURCE Legg Mason, Inc.