Franklin Templeton completed the acquisition of Legg Mason for $6.5bn.

Franklin Templeton, a global investment management organization, completed the acquisition of Legg Mason, an American investment management firm with a focus on asset management and serves customers worldwide, for $6.5bn. “We’re extremely excited to announce the close of our Legg Mason acquisition, representing the largest and most significant transaction in Franklin Templeton’s history. A tremendous amount has happened since we made our announcement in mid-February, but the strategic rationale for this powerful combination has only strengthened. This acquisition unlocks substantial value and growth opportunities driven by greater scale, diversity and balance across investment strategies, distribution channels and geographies. Our combined firm is aligned in terms of culture and our shared focus on delivering strong investment results for our valued clients,” Jenny Johnson, Franklin Templeton President and CEO.