Henderson Group shares are on a tear on US merger news

Justin Tallis/AFP/Getty Images

Shares in funds manager Henderson Group jumped on the ASX after it announced a merger with the US-based investment firm Janus Capital.

A short time ago, the shares were up 12% to $4.46.

Shareholders of the UK-based Henderson will end up with about 57% of the merged company, a business with assets worth more than $US320 billion under management and a combined market capitalisation of $US6 billion.

The company will have 2300 employees, with revenue of more than $US2.2 billion and underlying EBITDA (earnings before interest, taxes, depreciation, and amortisation) of $US700 million.

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