Investment managers Horizon Asset Management Inc and Kinetics Asset Management Inc, known for their taste in inexpensive stocks, plan to merge into a single company to better target large and small investors. Horizon Kinetics LLC, as the the new firm will be known, will oversee $9.8 billion in assets when the merger becomes official on May 1, the two companies said on Thursday. No terms were given. "In a way, we are merging with ourselves," said Murray Stahl, who co-founded Horizon in 1994 and will be chief investment officer and chairman at the new company. "The two companies were founded around the same time, by the same people and have always shared an investment philosophy," he said.
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