LONDON Oct 3 Fund management firms Janus
Capital and Henderson Global Investors have
agreed an all-share merger to form a company managing more than
$320 billion in assets, the firms said on Monday.
The merger will involve a share exchange in which each Janus
share will be exchanged for 4.719 newly issued shares in
Henderson, the firms said in a statement.
Henderson and Janus shareholders are expected to own
approximately 57 percent and 43 percent respectively of Janus
Henderson Global Investors' shares, with the merger completing
in the second quarter of 2017, subject to regulatory approvals.
The combined firm will have a market value of around $6 billion.
Janus' largest shareholder, Dai-ichi Life, supports
the merger, the firms said.
The combined group will apply for a primary listing in New
York, keeping Henderson's Australian listing.
Henderson is currently also listed in London.
(Reporting by Carolyn Cohn; Editing by Rachel Armstrong)