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Stock impact report

Closed-End Funds Administered by Legg Mason Partners Fund Advisor, LLC Announce Board Approval of New Management and Subadvisory Agreements

Western Asset Bond Fund Share of Beneficial Interest (WEA) 
Company Research Source: Business Wire
Western Asset Premier Bond Fund (NYSE: WEA),Western Asset Investment Grade Income Fund Inc. (NYSE: PAI),(each, a “Fund” and, together, the “Funds”) NEW YORK--(BUSINESS WIRE)--As was previously announced on February 19, 2020, Franklin Resources, Inc. (“Franklin Resources”) and Legg Mason, Inc. (“Legg Mason”) announced that they have entered into a definitive agreement for Franklin Resources to acquire Legg Mason in an all-cash transaction. Each Fund is administered by Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, and managed by Western Asset Management Company, LLC (“Western Asset”) and other affiliates of Legg Mason. The Funds’ investment manager, Western Asset, is a wholly-owned subsidiary of Legg Mason and would become a wholly-owned subsidiary of Franklin Resources as a result of the transaction. The Funds are sub-advised by other affiliates of Western Asset that also would be acquired by Franklin Resources as a result of the transaction. The tr Show less Read more
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