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Western Asset Intermediate-Term Muni I SBTYX

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Franklin to Buy Legg Mason

Senior Analyst

Analyst Note

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San Mateo, Calif.-based Franklin Resources announced today that it has entered into an agreement to buy Legg Mason for $4.5 billion in cash, creating a $1.5 trillion asset manager. The deal is expected to close in the third quarter of 2020, pending approval from regulators and other parties.

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