在星期二，富兰克林资源 - 富兰克林Templeton后面的资产管理公司 -宣布它计划以45亿美元的交易获得腿部梅森。但据晨星分析师的说法，真实的Get是杠杆梅森的联系：邦德店西方资产管理。
Western Asset, which manages around $460 billion in fixed-income strategies, accounted for 57 percent of Legg Mason’s assets under management at the end of 2019. While acknowledging that Legg Mason’s affiliate structure “has proved problematic in the past,” Morningstar strategist Gregory Warren argued that Western Asset was where “the strength of the deal resides.”
据沃伦于周二发布的分析师票据，固定收入投资将占1.5万亿美元的富兰克林Teampleton的约46％，预计在交易结束后将管理。股票将占约33％的资产，其余遍及替代品，多档策略和金钱市场基金。
Karin Anderson，晨星北美固定收入策略总监，将单独的分析师注意事项描述为“重新收入的转变”，由西方资产的“重要”平台造成。
“这将大大扩大富兰克林的固定收入业务，并从Michael Hasenstab的全球宏小组的战略中提供多样化，该战略占富兰克林目前的固定收入平台的大量份额，最近经历了重要的流出，”她写道。
While Franklin Templeton and Legg Mason have not yet shared any details around the consolidation of their fund lineups, Anderson concluded that there is “a good deal of overlap across Franklin and Legg Mason’s fixed-income and equity lineups, for both global and U.S.-focused strategies as well as across the firm’s multi-asset offerings.”
[II深潜：Franklin Templeton购买了Legg Mason，形成了1.5万亿美元的资产经理]
此次收购遵循少数大资产管理公司的其他合并，包括2017年综合综合Janus Henderson投资者和标准生活Aberdeen。然而，据安德森的说法，Franklin Templeton购买了Legg Mason的购买legg梅森是最近几年中的最大交易。
在周二的说明中，沃伦写道，在交易之前，这两家公司的结合“甚至不是我们的雷达”。
“我们相信两个公司可能是较小的资产管理人员的收购者，而不是一个是一个是收购目标，”他补充道。
他写道，晨星预计会在内部和外部看到“公平合并”，管理人员在其现有阵容中合并资金，并收购其他公司以增加其规模和广度的产品。
“We had viewed most of the U.S.-based asset managers we cover to be buyers rather than sellers (hence our surprise with Feb. 18’s announced transaction), with the earliest deals focused more on firms looking to fill in product sets or expand their distribution reach,” Warren wrote. “The Franklin-Legg Mason combination has a little bit of both.”