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Thursday, July 24, 2014

Asset manager Legg Mason to purchase UK's Martin Currie, (NYSE: LM)

Asset manager Legg Mason Inc said it would purchase UK-based investment manager Martin Currie to expand in equity markets. The deal is expected to be slightly accretive to Legg Mason's earnings in the first year and is expected to close during the fourth quarter of 2014, the purchaser said in a statement.

Legg Mason, Inc. (Legg Mason) is a global asset management company. Shares of LM remained unchanged at $50.64. In the past year, the shares have traded as low as $32.11 and as high as $52.00. On average, 797211 shares of LM exchange hands on a given day and today's volume is recorded at 0.