Stake in Janus Capital:

Stilwell Financial Inc. said Friday it will buy 600,000 shares of Janus Capital Corp. from Thomas H. Bailey, founder of the mutual fund giant.

The deal, for undisclosed terms, will raise Stilwell’s stake in Denver-based Janus to 88.7% and cut Bailey’s stake approximately in half.

Bailey, who founded Janus in 1969, called the transaction part of a “long-term financial plan.”

Stilwell Chief Executive Landon H. Rowland said Friday’s deal provides Stilwell with shares that can be used to lure managerial talent and to provide incentives to key Janus personnel.

Stilwell (SV) shares slid $1.13 on Friday to $42.31 on the New York Stock Exchange.