MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, October 6, 1999 Odd Lots, October 6, 1999 Janus' spat with parent hits page one From The Wall Street Journal The Street's paper of record reports today that Janus is seeking a "divorce" from Kansas City Southern -- its corporate parent of the last fifteen years. "They have a different culture," the paper quotes Thomas H. Bailey, Janus's 62-year-old chairman and founder, as saying. Though personality and ego certainly play a role in the dispute, the bottom line reason is the bottom line: Janus' earnings amounted to $161 million of KSC's net income of $190 million last year. Pimco merger talks confirmed From The Los Angeles Times Pimco Advisors Holdings, the money manager that operates the world's largest bond fund, confirmed it is negotiating to be acquired by German insurance giant Allianz for as much as $4.4 billion. The all-cash transaction would value Pimco at $38 to $39 per unit, or share. The a value of the deal should fall between $4.2 billion and $4.4 billion for all 111.8 million of Pimco's public and private units, the company said. A merger with Allianz would enable Pimco to greatly expand its overseas operations. Printed from: MFWire.com/story.asp?s=25059 Copyright 1999, InvestmentWires, Inc. All Rights Reserved |