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Moody’s Likes Janus-Henderson Deal, But Warns Problems Remain

Janus Capital Group (JNS)’s merger with Henderson Group, announced last week, got Wells Fargo’s approval and Gabelli & Co. thinks that the stock is still a buy. From a credit perspective, Fitch Ratings also liked the deal for Janus, and Monday Moody’s also weighed in on the positive side. Analyst Stephen Tu writes that the firm’s bondholders will benefit from the merger, given that it would double it earnings base (Henderson is debt free and the share exchange structure won’t create additional debt for Janus).
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