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Legg Mason : Shanda Group Plans to Increase Stake to Up to 15% of Legg Mason's Common Stock as Part of Long Term Strategic Investment

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BALTIMORE, Dec. 19, 2016 /PRNewswire/ -- Legg Mason Inc., (NYSE:LM), today announced an agreement with Shanda Group, Legg Mason's largest shareholder, that includes a commitment to appoint Tianqiao Chen, Chairman and CEO of Shanda Group and a well-known technology entrepreneur in Asia, and Robert Chiu, President of Shanda Group and an executive with 25 years of international financial and technology experience, to its Board of Directors by June 1, 2017.

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