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Stock Market & Financial Investment News

News Breaks
June 5, 2014
06:14 EDTJNS, PLDai-ichi, Protective deal removes bullish Janus argument, says Citigroup
Citigroup believes Dai-ichi Life's buyout of Protective Life (PL) removes one of the key bullish arguments for Janus Capital (JNS) since Dai-ichi owns nearly a 20% stake in Janus and now a possible takeout is less likely. Citi says the Protective Life deal takes away the majority of Dai-ichi's $7B cash position. The firm keeps a Sell rating on Janus with a $9 price target.
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