Investigation Overview
October 11, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Janus Capital Group Inc (NYSE:JNS), was announced concerning whether the takeover of Janus Capital Group Inc. by Henderson Group plc for a value of approximately $14.20 per share is unfair to NYSE:JNS stockholders.
The investigation by a law firm concerns whether certain officers and directors of Janus Capital Group Inc breached their fiduciary duties owed to NYSE:JNS investors in connection with the proposed acquisition.
On October 3, 2016, Henderson Group plc and Janus Capital Group Inc (NYSE:JNS) announced that their respective Boards of Directors have agreed to an all-stock merger of equals. Under the terms of the agreement, shareholders of Janus will receive 4.7190 shares of Henderson or a value of approximately $14.20 for each share of Janus common stock.
However, given that at least one analyst has set the high target price for NYSE:JNS shares at $17.50 per share, the investigation concerns whether the offer is unfair to NYSE:JNS stockholders. In addition, given that Dai-ichi, the largest Janus Capital Group Inc shareholder, has already committed to vote in favor of the merger and believes the combination will further strengthen its global partnership with Janus Henderson Global Investors, the investigation concerns whether the Janus Capital Group Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Janus Capital Group Inc reported that its annual Total Revenue rose from $953.20 million in 2014 to over $1.07 billion in 2015 and that its Net Income increased from $154.40 million to $155.80 million.