DST Systems Inc and Janus in stake sale talks
30 April 2003 | 1057 views | 0
DST Systems Inc is in talks with Janus Capital about acquiring Janus' 33% stake in the US mutual fund technology vendor.
In a joint statment, the two companies say they are discussing potential transactions, including a tax-free reorganisation, that could result in DST acquiring all or a portion of the 39.7 million shares (approximately 33%) of DST common stock currently owned by Janus Capital Group.
"The discussions are preliminary and no agreement has been reached," say the companies.
News of the talks emerged as Denver-based Janus reported a 60% slide in quarterly profits as assets tumbled amid the market downturn.