Henderson Group Plc agreed to buy Gartmore Group Plc for £335.3m in stock to expand its consumer and emerging market fund management operations.

Gartmore shareholders will get 0.6667 of a new Henderson share for each one they already own, Henderson said in a statement today. That values each Gartmore share at about 92.1 pence, based on yesterday’s closing price. Gartmore investors will own about 22.5 percent of Henderson after the transaction.

Gartmore Chief Executive Officer Jeffrey Meyer put the money manager up for sale in November after five fund managers quit, including Roger Guy and Guillaume Rambourg, who once oversaw one-third of the firm’s assets. The takeover follows Henderson’s purchase of John Duffield’s New Star Asset Management Group Plc in 2009.