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 |
|
Monday, May 16, 2005 Takeover Rumors Lift Janus Shares Unconfirmed rumors that Janus Capital is a takeover target boosted Monday's trading volume and price, reported Reuters. Shares closed at $14.53, up nearly nine percent for the day. On Monday, 4.6 million shares traded, compared to an average three-month volume of $1.5 million shares. Janus has a market capitalization of $3.3 billion. It was unclear what the source of the speculation was, but Reuters reported data that showed heavy trading in Janus options. According to Reuters, 2,767 calls options and 2,311 puts options traded on Monday, much higher than a 20-day average daily volume of 132 options. The largest stakeholder in Janus is Ariel Capital, with 15 percent. Franklin Morton, an Ariel Capital executive, told Reuters that Janus has an anti-takeover strategy that limits ownership to 15 percent. Printed from: MFWire.com/story.asp?s=9711 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |