Franklin-Legg Mason Merger To Create $1.5T In Assets
Update: 2025-10-03
Description
Narrow-moat Franklin Resources's plan to buy no-moat Legg Mason wasn't on Morningstar's radar.While we've been big proponents of consolidation among the U.S.-based asset managers the past several years, we believed both firms were likely to be acquirers of smaller asset managers as opposed to either....
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