LEGG MASON, INC. (NYSE:LM) Files An 8-K Entry into a Material Definitive AgreementItem 1.01Entry Into A Material Definitive Agreement.
On December 22, 2017, Legg Mason, Inc. (the “Company”) entered into an agreement (the “Share Repurchase Agreement”) with Shanda Asset Management Investment Limited (“Shanda”) to repurchase 5,567,653 shares of the Company’s common stock beneficially owned by Shanda for $40.50 per share in a private transaction. The aggregate purchase price was $225,489,946.50. The Share Repurchase Agreement contains customary representations, warranties and covenants of the parties.
The foregoing description of the Share Repurchase Agreement does not purport to be complete and is qualified in its entirety by reference to the Share Repurchase Agreement, a copy of which is filed herewith as Exhibit 10.1 and is incorporated by reference herein.
Item 8.01Other Items.
On December 22, 2017, the Company issued a press release, a copy of which is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01Financial Statements and Exhibits
(d)Exhibits
ExhibitSubject Matter
LEGG MASON, INC. ExhibitEX-10.1 2 exhibite10.htm EXHIBIT 10.1 Exhibit EXHIBIT 10.1Execution CopySHARE REPURCHASE AGREEMENTTHIS SHARE REPURCHASE AGREEMENT (this “Agreement”) is made and entered into as of the 22nd day of December,…To view the full exhibit click here
About LEGG MASON, INC. (NYSE:LM)
Legg Mason, Inc. is a holding company. The Company and its subsidiaries are principally engaged in providing asset management and related financial services to individuals, institutions, corporations and municipalities. The Company operates through Global Asset Management segment. Global Asset Management provides investment advisory services to institutional and individual clients and to the Company-sponsored investment funds. The Company, through its subsidiaries, provides investment management and related services to institutional and individual clients, Company-sponsored investment funds and retail separately managed account programs. It offers its products and services directly and through various financial intermediaries. It has operations principally in the United States and the United Kingdom and also has offices in Australia, Bahamas, Brazil, Canada, Chile, China, Dubai, France, Germany, Italy, Japan, Luxembourg, Poland, Singapore, Spain, Switzerland and Taiwan.
