Franklin Templeton Discontinues Reorganization of Western Asset Total Return ETF into Western Asset Bond ETF
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Franklin Templeton has decided to discontinue the reorganization of the Western Asset Total Return ETF into the Western Asset Bond ETF due to a lack of shareholder approval.
January 22, 2025 | 10:00 pm
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Franklin Templeton, a subsidiary of Franklin Resources, Inc. (BEN), has halted the reorganization of two Western Asset ETFs due to insufficient shareholder approval.
The decision to discontinue the ETF reorganization is significant for Franklin Templeton, a part of Franklin Resources (BEN). However, the direct impact on BEN's stock price is likely neutral in the short term as the reorganization was not completed.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80