Legg Mason approached by private equity firms, report says

Legg Mason Inc. has been courted recently by private equity firms wanting to take the Baltimore money manager private, a Reuters report says, but the company’s board of directors will not entertain the plan — at least for now.

Legg Mason’s board will not explore the option at least until it hires a new CEO, according to Reuters, which cites unnamed sources.

The report says at least two unidenetified private equity investors — one as recently as November — have shown interest in financing…