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Bill Miller completes acquisition of LMM stake

Bill Miller has completed the acquisition of Legg Mason Inc.'s stake in LMM LLC, giving Miller and his companies 100% ownership of LMM.

The mutual funds that LMM managed will be known as Miller Value Funds. The Legg Mason Opportunity Trust was renamed the Miller Opportunity Trust, and the Miller Income Opportunity Trust is now Miller Income Fund.

LMM and affiliate Miller Value Partners LLC will conduct their advisory business under the name Miller Value Partners.

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