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Stilwell Financial to Increase Stake in Janus to 88.7%

Stilwell Financial


said it would purchase 600,000

Janus Capital

common shares from Thomas H. Bailey, the chairman, president, CEO and founder of the mutual fund group.

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Stilwell, which is based in Kansas City, Mo., will own 88.7% of Janus after closing the acquisition.

The transaction represents about 6.2% of the Janus shares outstanding, and about half the shares Bailey owns. When the deal closes, Bailey will own about 6% of Janus. He will continue to serve the company in his current capacities.

Stilwell expects to close the transaction within 30 days. The company's shares were down $2.06, or 4.8%, to $41.38 in recent

New York Stock Exchange