Close the acquisition of Legg Mason, Inc. in the third quarter of calendar 2020

Delivered by the deadline

AI-confirmed · human review in progress Independent AI checks agreed on primary SEC or regulator evidence. Records are now being reviewed by hand, starting with those our customers order.

Announced: 30 Apr 2020
Due: 30 Sep 2020
Delivered: 31 Jul 2020

Deadline
Met
Late
Not met
Today

What the company said

“Our acquisition of Legg Mason remains on track to close in the third quarter of the calendar year, and integration plans are well underway.”

SourceFranklin Resources Form 8-K press release, 2020-04-30
FilingSEC filing index
Deadline as statedin the third quarter of the calendar year
Deadline used30 Sep 2020, the last day of the stated period
TypeTransaction
Permanent referenceKI-C-2020-BEN-006674
Cite as https://keptindex.org/c/KI-C-2020-BEN-006674/ — this address never changes.

What we found

Evidence strength A What the grades mean

The 10-K filed 2020-11-23 states the Legg Mason acquisition was completed on July 31, 2020, before the Q3 2020 deadline.

A
Franklin Resources 10-K filed 2020-11-23 Regulatory filing · published 23 Nov 2020 · retrieved 10 Oct 2026 · kept permanently by the SEC · fingerprint 201c16fd79d8
“On July 31, 2020, we completed our acquisition of Legg Mason, Inc. pursuant to the terms and conditions of the Merger Agreement, and Legg Mason became a wholly-owned subsidiary of Franklin.” ✓ confirmed on the page
A
Franklin Resources 10-Q filed 2021-08-03 Regulatory filing · published 3 Aug 2021 · retrieved 10 Oct 2026 · kept permanently by the SEC · fingerprint 8c5b07b0ee2b
“Revenue and net income of Legg Mason included in total operating revenues and net income attributable to Franklin Resources, Inc.” ✓ confirmed on the page

Market reaction: the shares moved +6.3% against the S&P 500 over the three sessions around the disclosure (20 Nov 2020 to 25 Nov 2020). What this measures

Checked 10 Oct 2026.

Commitment lineage

Every time the company restated this commitment. The original is never changed, and the outcome is always measured against version 1.

Deadline drift -61 days
2 versions

Version 1 · original · stated 30 Apr 2020

Deadline 30 Sep 2020 (“in the third quarter of the calendar year”) · wording expected
Version 2 · stated 28 Jul 2020

Deadline 31 Jul 2020 (“this Friday”) · wording expected

“our landmark acquisition of Legg Mason is expected to close this Friday, ahead of our originally anticipated schedule”
Source for this version

Commitment DNA

The structured record of this commitment. Fields the company did not state are left blank rather than guessed.

Event type: Acquisition close
Indicative materiality: High rules
Action: Close
Deliverable: Acquisition of Legg Mason
Language: Expected (“expects”, “plans”)
In the company’s control: Medium
Specificity: High
Conditional: Yes: working to satisfy the conditions to close

How this entry was checked

Commitment recordedThe company's words were matched word for word against the filing.
First checkAn AI model, Claude (Anthropic), read the company's later filings and recorded the outcome with a quoted passage.
Second check: agreesA different AI model, Gemini (Google), re-read the evidence without being told the outcome and reached the same answer.

Confirmed. This outcome counts towards the company's Kept Score. How verification works

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