Bill Miller entered into an agreement to additional 50% stake in LMM LLC from Legg Mason Inc. (NYSE:LM) on August 11, 2016. As a result of the acquisition Bill Miller, together with companies he controls, will own 100% of LMM. There will be no changes to the investment team or portfolio management responsibilities of LMM as a result of the transaction. The transaction is subject to customary conditions and regulatory approvals and is expected to close on or around the calendar year end. Bill Miller completed the acquisition of additional 50% stake in LMM LLC from Legg Mason Inc. (NYSE:LM) on February 27, 2017.