Investment firms Henderson and Janus to combine

NEW YORK (AP) " Henderson, a London-based investment firm, plans to combine with U.S. rival Janus Capital and create a new company that would manage more than $320 billion in assets.

The combined company will be called Janus Henderson Global Investors and its stock will be traded on the New York Stock Exchange when the deal closes, which is expected to happen in the second quarter of next year. The new company will be headquartered in London and keep offices in Denver, where Janus is based.

Henderson shareholders will own about 57 percent of the new company and Janus shareholders will own 43 percent. Henderson CEO Andrew Formica and Janus CEO Dick Weil will be co-CEOs of the new company, and both will be based in London.

Bringing the two companies together will create one company that manages assets across the world. Henderson's biggest market is the U.K., while Janus has its strongest presence in the U.S. The combined company will also manage assets in Asia, South America and Australia.

Janus is also where well-known billionaire bond investor Bill Gross works. He joined the company after leaving Pimco two years ago.

Shares of Henderson Group PLC, traded on the London Stock Exchange, rose nearly 17 percent Monday. Shares of Janus Capital Group Inc., traded on the NYSE, rose nearly 13 percent in afternoon trading in New York.

This story has been automatically published from the Associated Press wire which uses US spellings

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