Texans Marlene and Spencer Hays are bequeathing to the Musee d'Orsay in Paris some 600 works dating from the second half of the 19th century to the first half of the 20th century.
France's culture ministry has estimated the value of the collection, which includes pieces by Modigliani and Maillol, at 350 million euros (USD 381 million).
Spencer Hays is scheduled to speak at a donation ceremony tonight, when Hollande plans to award Hays and his wife the Legion of Honor France's highest civilian award.
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