Henderson Group, Janus Capital Announce $6 Billion All-Shares Merger
October 03 2016 - 4:20AM
Dow Jones News
LONDON—Investment management firms Henderson Group PLC and Janus
Capital Group Inc. on Monday announced an all-share merger aimed at
widening their distribution reach.
The boards of both companies have unanimously agreed to the
deal, which would give the combined group a market capitalization
of $6 billion.
The combined company will be named Janus Henderson Global
Investors PLC and Henderson and Janus shareholders are expected to
own 57% and 43% respectively.
The merger is currently expected to close in the second quarter
of 2017, subject to shareholder and regulatory approvals.
It should increase the companies' distribution strength and
coverage in markets such as the U.S., Europe, Australia, Japan and
the U.K., as well as a growing presence in Asia-Pacific, the Middle
East and Latin America.
The companies are targeting annual run-rate net cost savings of
at least $110 million weighted to the first 12 months following
completion and expected to be fully realized three years post
completion.
Janus Henderson Global Investors will be managed by a newly
appointed executive committee, whose members will report jointly to
co-chief executives Dick Weil and Andrew Formica.
Henderson is an independent global asset manager, specializing
in active investment. Henderson is dual-listed on the Australian
Securities Exchange and the London Stock Exchange, and has a market
capitalization of £ 2.6 billion ($3.37 billion).
Janus Capital Group is a global investment firm. Based in
Denver, Janus has offices located in 12 countries throughout North
America, Europe, Asia and Australia. It is listed on the New York
Stock Exchange and has a market capitalization of $2.6 billion.
The combined group will apply for admission to trade on the New
York Stock Exchange as its primary listing, retaining Henderson's
existing listing on the Australian Securities Exchange.
Write to Razak Musah Baba at Razak.Baba@wsj.com
(END) Dow Jones Newswires
October 03, 2016 05:05 ET (09:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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