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Legg Mason: The end of an iconic Baltimore company (access required)

Legg Mason to be acquired by California firm for $4.5B

Joseph Sullivan was finally ready for the conversation he dreaded. After months of meetings with executives from Franklin Resources, the chairman and CEO of Legg Mason, the venerable money manager headquartered in Baltimore, knew he needed to let one other person know that a sale of Legg Mason to the California-based company was being seriously considered. The ...

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