Citigroup, Legg Mason Ink $3.7B Deal

June 23, 2005

Citigroup Inc. will swap most of its asset management arm for Legg Mason Inc.’s brokerage business, the companies said on Friday, in a $3.7 billion deal that would thrust Citigroup into a battle with Merrill Lynch for top U.S. broker.

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Citigroup, Legg Mason Ink $3.7B Deal

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