Henderson & Janus Capital Announce All-stock Merger - Quick Facts

(RTTNews) - Henderson Group plc (HGG.L) and Janus Capital Group Inc. (JNS) announced their Boards have agreed to an all-stock merger of equals. The combined company will be named Janus Henderson Global Investors plc. Henderson and Janus shareholders are expected to own approximately 57% and 43% respectively of Janus Henderson Global Investors' shares on closing. 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.

The merger is expected to be double-digit accretive to both companies' earnings per share, excluding one-off costs, in the first 12 months following closing. The combined group will apply for admission to trade on the NYSE as its primary listing, retaining Henderson's existing listing on the ASX.

Henderson and Janus CEOs will lead Janus Henderson Global Investors plc together. Henderson's CFO, Roger Thompson, will become CFO of the combined Group. Janus' CFO, Jennifer McPeek, will become Chief Operating and Strategy Officer of Janus Henderson Global Investors.

Dai-ichi, the largest Janus shareholder, has committed to vote in favour of the merger. Post-merger, Dai-ichi will hold approximately 9% of the combined group and intends to further invest in the combined company to increase its ownership interest to at least 15%.

Dick Weil, CEO of Janus, said "This is a transformational combination for both organizations. Janus brings a strong platform in the US and Japanese markets, which is complemented by Henderson's strength in the UK and European markets."