Janus CEO shies away from takeover

Janus Capital Group Inc. wants to stay independent and focus on growing its international and institutional businesses but will not rule out a sale, according to its chief executive in an interview with Reuters.
The Denver-based fund manager has been dusting itself off after large outflows between 2000 and 2002 and a mutual fund scandal.
It has been mentioned as a possible takeover candidate.
“If the board was presented with a strategic combination that was the best way to create value, we would have to evaluate it. But I feel pretty strongly that remaining independent, as long as we can create value and maximize value that would be the direction we would take,” Janus chief executive Gary Black said, according to the report.
When asked if he received any takeover offers, Mr. Black declined to comment on “rumors.”
The asset management industry has recently seen an increase in takeover activity.
Montreal-based Power Financial Corp. announced earlier this month that it will buy Boston-based Putnam Investments for $3.9 billion from financial services firm Marsh & McLennan Cos. Inc.
Janus had assets under management of $167.7 billion as of Dec. 31.