Report: Legg Mason Looks To Go Private

(Reuters) – Asset manager Legg Mason Inc (LM.N: Quote, Profile, Research, Stock Buzz) is looking to go private, The New York Post reported, citing people familiar with the situation.

Legg Mason had been weighing a move that could see one or more private-equity investors, including Kohlberg Kravis Roberts & Co., buy it and spin off most of its numerous funds, the paper said citing the people.

The sources also told the paper that obstacles may emerge to frustrate such a deal.

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

Legg Mason and Kohlberg Kravis Roberts could not be immediately reached for comment by Reuters.

(Reporting by Ajay Kamalakaran in Bangalore; editing by Sue Thomas)