Legg Mason combining equity biz with ClearBridge

Legg Mason is combining its two US equity affiliate companies as value-management star Bill Miller separates himself from those businesses. The result will impact a range of Legg Mason products registered in Asian markets, and possibly create the heft required for the new entity to step up its sales efforts in Asia. The decision follows recent speculation over the fate of Legg Mason. Reuters reported last week that some of its senior managers discussed taking the firm private with pri…