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Strategies & Market Trends : Fidelity Funds

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From: Sr K	10/3/2016 8:27:01 AM
	of 11457

Re: competitor Janus October 3, 2016 2:09 am Janus Capital and Henderson Group agree to an all-stock merger of equals ( JNS) : Henderson Group and Janus Capital Group announce that their respective Boards of Directors have unanimously agreed to an all-stock merger of equals. The combined company will be named Janus Henderson Global Investors plc. The merger will be effected via a share exchange with each share of Janus common stock exchanged for 4.7190 newly issued shares in Henderson. Henderson and Janus shareholders are expected to own ~57% and 43% respectively of Janus Henderson Global Investors' shares on closing, based on the current number of shares outstanding. Combined group will have AUM of more than $320 bln and a combined market capitalisation of ~$6 bln Annual run rate net cost synergies of at least $110 mln, expected to deliver compelling value creation for shareholders Janus' largest shareholder, Dai-ichi Life ( DCNSF), has committed to supporting the merger and intends to extend its strategic partnership to the combined group The merger is currently expected to close in the second quarter of 2017, subject to requisite shareholder and regulatory approvals.

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