On June 20, 2011, global investment management organization Franklin Templeton Investments announced that Franklin Templeton Investments Australia Limited has entered into an agreement to acquire Balanced Equity Management Pty. Limited in a cash and stock deal.
On June 20, 2011, Franklin Templeton Investments announced a definitive agreement to acquire Balanced Equity Management. The deal, which is subject to normal closing conditions, will be a cash and stock transaction. Balanced Equity is a specialist equity manager based in Melbourne, Australia that employs a fundamental value approach. Balanced Equity manages approximately $11 billion in assets. Franklin Templeton is a San Mateo, California-based global investment management organization with approximately $735 billion in assets under management. The acquisition will enable Franklin Templeton to expand into the Australian market. The financial terms of the deal, which is expected to be completed in early July, have not been disclosed.
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