Legg Mason of Baltimore, Md., announced that it has acquired Berkshire Asset Management of Wilkes-Barre, Penn., a firm that manages assets for high-net-worth individuals and institutions.

Berkshire, which was founded in 1986, has about $600 million in assets under management. Terms of the transaction, which closed Sept. 2, were not disclosed. The acquisition was announced Sept. 7 for the first time.

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