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Legg Mason enters agreement to repurchase common shares

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Legg Mason enters agreement to repurchase common shares

Legg Mason Inc. on Dec. 22 entered into an agreement with Shanda Asset Management Investment Ltd. to repurchase 5,567,653 of its common shares beneficially owned by Shanda for $40.50 per share in a private transaction.

The aggregate purchase price was about $225.5 million.