Legg Mason Denies Plans To Go Private

BOSTON (Reuters) – Asset manager Legg Mason Inc (LM.N: Quote, Profile, Research, Stock Buzz) said on Monday it was not looking to go private, denying a report in The New York Post.

Legg said in a statement its current business strategy has not changed.

The Post had cited sources as saying Legg had been weighing a move that could see one or more private-equity investors, including Kohlberg Kravis Roberts & Co., buy it and spin off many of its numerous funds.

A Legg Mason spokesperson had told the paper it was “categorically untrue” that the company was in talks surrounding going private. A Kohlberg Kravis Roberts spokesperson declined to comment to the paper.

(Reporting by Muralikumar Anantharaman in Boston, with additional reporting by Ajay Kamalakaran in Bangalore; writing by Christopher Kaufman in New York)