On Monday, Henderson Group PLC (ASX: HGG) announced an update on its proposed merger with Janus Capital Group. Janus Henderson Investors expects to have a combined market capitalisation of c.US $5.6 billion, with Henderson holding approximately 57% of the merged group and Janus approximately 43%. The Dai-ichi Life Insurance Company, Janus’ largest shareholder, intends to further invest in the combined company to increase its ownership to at least 15%. We believe the merger will create a leading funds management business which should see potential material cost and revenue synergies. Shares in HGG closed up 2.4% for the week. We own HGG as an investment in WAM Capital, WAM Leaders and WAM Active.
Matthew has more than 11 years’ experience in the investment industry working as both a portfolio manager and analyst. Matthew is the Portfolio Manager responsible for WAM Leaders and Century Australia.