But improving fundamentals at Janus - better fund performance, the first positive inflows in 2-1/2 years and decent third-quarter earnings - combined with speculation over the buyout itself have pushed the value of the stock to the $20 range, $3 above the $17 target price the executives were counting on. When discussions on the buyout began, Janus was trading at $15. Its reached a low of $13 at the end of April, a far cry from its $54 peak in the fall of 2000.
Adding to the speculation that a deal has been in the works is increasing chatter on investor message boards and the resignation of board member Robert Burt at the end of October, who said he "disagreed with some of the strategies that the board was pursuing to increase shareholder value."
