December 22, 2017 / 5:58 PM / 9 months ago

BRIEF-Legg Mason Announces Repurchase Agreement With Shanda Asset Management

Dec 22 (Reuters) - Legg Mason Inc:

* LEGG MASON ANNOUNCES REPURCHASE AGREEMENT WITH SHANDA ASSET MANAGEMENT

* LEGG MASON INC - AGREED TO REPURCHASE 5.6 MILLION SHARES OF CO FOR $40.50 PER SHARE IN A PRIVATE TRANSACTION

* LEGG MASON - ENTERED AGREEMENT WITH SHANDA ASSET MANAGEMENT INVESTMENT LIMITED TO REPURCHASE 5.6 MILLION SHARES BENEFICIALLY OWNED BY SHANDA

* LEGG MASON - UNTIL OCT 2018, WILL APPLY FUNDS THAT WOULD HAVE BEEN ALLOCATED TO SHARE REPURCHASES TO PAY DOWN AMOUNTS DRAWN UNDER REVOLVING CREDIT LINE Source text for Eikon: Further company coverage:

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