June 15, 2001 |
Stilwell Financial is rumored to be in talks to buy Merrill Lynch & Co.'s Los Angeles-based money management arm formerly known as Hotchkis & Wiley, according to the Web site InvestorForce.com. Meanwhile, the L.A. unit's former portfolio management team headed by Sarah Ketterer, which ran the Mercury HW International Value Fund before defecting from Merrill last week, has set up shop in West Los Angeles as Causeway Capital Management. Kansas City, Mo.
April 21, 2001 |
Janus Capital Corp., which has had more than $2 billion of investor withdrawals from its retail funds this year, cut 546 jobs in its operations unit, its second round of staff reductions since February. Janus, last year's best-selling mutual fund firm, said it is closing its 3-year-old Austin, Texas, telephone-call center and reducing staff in Denver. The cuts amount to 25% of the Denver-based firm's work force and follow the elimination of 468 positions in February.
January 31, 2001 |
Other earnings, excluding one-time gains or charges unless noted, include: * Avis Group Holdings Inc., which is being acquired by Cendant Corp., said fourth-quarter earnings rose 42% to $15.3 million, or 32 cents a share, a penny better than expectations, as sales edged down less than 1% to $1 billion. * Cardinal Health Inc., the second-biggest U.S. drug wholesaler, said fiscal second-quarter profit rose 21% to $214.6 million, or 75 cents a share, from $176.
January 27, 2001 |
Stilwell Financial Inc. said Friday it will buy 600,000 shares of Janus Capital Corp. from Thomas H. Bailey, founder of the mutual fund giant. The deal, for undisclosed terms, will raise Stilwell's stake in Denver-based Janus to 88.7% and cut Bailey's stake approximately in half. Bailey, who founded Janus in 1969, called the transaction part of a "long-term financial plan." Stilwell Chief Executive Landon H.
July 26, 2000 |
The parent of the Janus mutual fund group thinks it has found a very attractive stock: Its own. Stilwell Financial (ticker symbol: SV) said Tuesday it will buy back as much as $1 billion of its common stock on the open market over the next two years. At the current price, the company could repurchase as much as 9% of its 223 million shares of common stock outstanding, Kansas City, Mo.-based Stilwell said.
January 11, 2000 |
Kansas City Southern Industries Inc. (ticker symbol: KSU) again delayed the long-awaited spinoff of its financial services businesses Monday because of regulators' questions related to its Janus Capital Corp. unit that could scuttle the transaction, analysts said. The Securities and Exchange Commission may require KSU to recast Janus as an equity investment rather than a consolidated subsidiary, the company said. That may trigger the Internal Revenue Service to reexamine whether K.C.