Janus Capital Group and Henderson Group completed their “all-stock merger of equals” on Tuesday to form the Janus Henderson Group, with their new stock debuting on the New York Stock Exchange under the trading symbol JHG, at $30.75 per share.
(Related on ThinkAdvisor: Janus-Henderson Merger May Not Slow Firms’ Outflows)
The firm’s stock will also continue to trade on the Australian Securities Exchange but not under the JHG symbol until June 13. It was delisted on the London Stock Exchange.
The merger is seen as a way to add distribution capabilities because of the international reach of the new firm and potentially slow outflows that have plagued both Janus and Henderson, which focus on actively managed funds. It remains to be seen if that will be the case.
(Related on ThinkAdvisor: Active Managers’ Struggle to Maintain Assets)
Dick Weil and Andrew Formica, both co-CEOs of the new firm and formerly CEOs of Janus and Henderson, respectively, are hopeful.
“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,” said Weil, in a statement.
“The breadth and depth of investment professionals and the broad array of talented colleagues gives us an enviable position to meet our clients’ needs,” said Formica in the same statement.