Legg Mason (LM)
Posted: Mon Sep 22, 2008 8:17 pm
Legg Mason weighing up move to go private: report
Asset manager Legg Mason is looking to go private, The New York Post reported, citing people familiar with the situation.
Legg Mason had been weighing a move that could see one or more private-equity investors, including Kohlberg Kravis Roberts & Co, buy it and spin off most of its numerous funds, the paper said citing the people. The sources also told the paper that obstacles may emerge to frustrate such a deal.
A Legg Mason spokesperson told the paper it was "categorically untrue'' the company was in talks surrounding going private. A Kohlberg Kravis Roberts spokesperson declined to comment to the paper.
Legg Mason and Kohlberg Kravis Roberts could not be immediately reached for comment.
REUTERS
Asset manager Legg Mason is looking to go private, The New York Post reported, citing people familiar with the situation.
Legg Mason had been weighing a move that could see one or more private-equity investors, including Kohlberg Kravis Roberts & Co, buy it and spin off most of its numerous funds, the paper said citing the people. The sources also told the paper that obstacles may emerge to frustrate such a deal.
A Legg Mason spokesperson told the paper it was "categorically untrue'' the company was in talks surrounding going private. A Kohlberg Kravis Roberts spokesperson declined to comment to the paper.
Legg Mason and Kohlberg Kravis Roberts could not be immediately reached for comment.
REUTERS