Separately, The Wall Street Journal said that at least one other private equity firm was planning to join in the Janus buyout. Fortune originally reported on Tuesday that Janus management was thinking of an offer price of $17 per share.
"I think their first choice probably is to run it as an independent company, but if the right offer came along, I certainly think they would do what is right for the shareholders," said Frank Morton, senior vice president portfolio management of Ariel Capital Management, which is Janus' biggest shareholder with 14.5% holding.
All the talk about the buy-out was further fueled by the Oct. 26 announcement that Robert Burt, an independent director, had resigned. Chief Executive Steve Scheid said that Burt "disagreed with some of the strategies we are pursuing to increase shareholder value."
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.