Janus Capital Group Inc. and Henderson Group Complete Merger of Equals
- M&A Deals
- 30.05.2017 01:45 pm
Janus Capital Group Inc. and Henderson Group plc today announce the completion of an all-stock merger of equals to form Janus Henderson Group plc (Janus Henderson). Concurrent with Henderson Group plc's delisting from the London Stock Exchange, today Janus Henderson lists its shares on the New York Stock Exchange (NYSE) under the ticker symbol "JHG" (NYSE:JHG).
Janus Henderson securities will also continue trading on the Australian Securities Exchange (ASX) on a deferred settlement basis up to the close of trading on 2 June 2017 under the code HGGDA, and on a normal settlement basis on and from 5 June 2017, with normal settlement trading in Janus Henderson securities on the ASX taking place under the ticker symbol "HGG" up to the close of trading on 9 June 2017. On and from 13 June 2017, Janus Henderson securities will trade on the ASX under the ticker symbol "JHG" (ASX:JHG). The group will market its products and services as Janus Henderson Investors with immediate effect.
Janus Henderson is a leading global active asset manager that:
- Manages assets under management (AUM) of approximately U.S.$331 billion (as at 31 March, 2017)(1) with a market capitalization of approximately U.S.$6 billion
- Features significant scale, diverse products and investment strategies, and depth and breadth in global distribution
- Leverages Janus's strength in the U.S. markets and Henderson's strength in the U.K. and European markets, creating a truly global active asset manager with a diverse geographic footprint
- Expected attractive growth potential and annual run rate pre-tax net cost synergies of at least U.S.$110 million, should deliver compelling value for shareholders
(1) Pro forma combined pre-merger figures of Janus Capital Group and Henderson Group, as at 31 March 2017. Combined AUM excludes U.S.$3 billion of Exchange-traded Notes as Janus Henderson is not the named advisor or subadvisor. Exchange rate used for translation from GBP to USD: 1.25
Andrew Formica, Janus Henderson's Co-Chief Executive Officer, said: "At our core, Janus Henderson is focused on delivering for our clients. Our work together since announcement has reinforced our shared culture and aligned business goals. The breadth and depth of investment professionals and the broad array of talented colleagues gives us an enviable position to meet our clients' needs."
Dick Weil, Janus Henderson's Co-Chief Executive Officer, said: "The combined firm, Janus Henderson, creates a truly global active asset manager that is well-positioned to succeed in the investment marketplace, with expanded product suites, greater financial strength and better talent, benefiting our clients, shareholders and employees."