Legg Mason of Baltimore, Md. has agreed to acquire Perigee, the ninth largest Canadian-based money management firm, based in Toronto. The acquisition will be structured as a stock swap. The firm's principals will remain. Perigee will become a wholly-owned subsidiary of Legg Mason.

Perigee, with satellite offices in Montreal, Vancouver and Waterloo, manages about $14 billion in assets for institutional and retail clients through separate accounts, pooled funds and a family of 12 proprietary no-load mutual funds.

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