News has been extremely quiet on the M & A front in Australia for some time even with the world awash with "free money". Then suddenly on the Labour Day public holiday, we have two big deals across the news wires after the low volume trading day with most states enjoying the spring weather. Firstly Henderson Group (HGG) announced a merger with Janus Capital Group creating "Janus Henderson Global Investors plc" which will be dual traded in Australia and London. This is great deal for HGG shareholders and we take our hat off to the HGG board. The new company will become a leading global active asset manager with over $320bn under management and have a combined market cap. of ~$6bn. We see very attractive growth potential and cost synergies. Click below for our take on the deal, as well as our thoughts on the part of the market that is likely to see the next wave of M&A.