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Henderson’s Shares Shoot Up More Than 20% Following Announcement Of Janus Merger

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London-based investment manager Henderson Group agreed to buy Denver's Janus Capital Group, leading to the creation of a new money manager that oversees $320B worth of assets, the companies announced Monday.

Henderson’s shares shot up higher than they have in more than seven years following the news, jumping 20.2%, Bloomberg reports. Janus Henderson Global Investors, the combined firm, will have a market value of at least $6B, according to a statement from the two firms.

The deal is expected to close in Q2 2017, and the combined company will be a UK tax resident and hopes to have its primary listing on the NYSE. As of June 30 Henderson managed $122.6B while Janus managed nearly $195B. [Bloomberg]