Business
Trian and General Catalyst Amend Merger Agreement with Janus Henderson at Increased Price of $52.00 Per Share in Cash
NEW YORK & SAN FRANCISCO, March 24, 2026--Trian Fund Management, L.P. and its affiliated funds ("Trian") and General Catalyst Group Management, LLC and its affiliated funds ("General Catalyst"), today confirmed that they amended the definitive merger agreement with Janus Henderson Group plc (NYSE: JHG), under which Trian and General Catalyst will now acquire Janus Henderson for $52.00 per share in cash. This represents Trian and General Catalyst’s best and final offer.
About this update from Janus Henderson Group Plc
[{"type":"text","content":"Provides Compelling Value to Janus Henderson Shareholders at Attractive Premium in an Uncertain Environment","length":107,"tagName":"p","attribs":{}},{"type":"text","content":"Transaction Remains on Track to Close in Mid-2026","length":49,"tagName":"p","attribs":{}},{"type":"text","content":"NEW YORK & SAN FRANCISCO, March 24, 2026--(BUSINESS WIRE)--Trian Fund Management, L.P. and its affiliated funds ("Trian") and General Catalyst Group Management, LLC and its affiliated funds ("General Catalyst"), today confirmed that they amended the definitive merger agreement with Janus Henderson Group plc (NYSE: JHG), under which Trian and General Catalyst will now acquire Janus Henderson for $52.00 per share in cash. This represents Trian and General Catalyst’s best and final offer.","length":514,"tagName":"p"},{"type":"text","content":"The amended purchase price represents a $3.00 increase in cash over the original $49.00 per share in cash purchase price and a 25% premium to the unaffected closing price of the Company's shares on October 24, 2025, the last trading day before the initial Trian/General Catalyst proposal was made public. Moreover, since that date, the S&P Composite 1500 Asset Management & Custody Banks Index and the S&P 500 Financial Services Index have declined 13.3% and 7.2% respectively, reinforcing the value certainty and expedited timeframe of the Trian/General Catalyst all-cash transaction.","length":601,"tagName":"p"},{"type":"text","content":"The Janus Henderson Special Committee and its Board determined that Victory Capital’s unsolicited March 17, 2026 proposal presents unacceptable closing risk, that its financing is highly uncertain and that the proposal is not actionable. Despite such determination, Trian and General Catalyst increased their purchase price per share to demonstrate their strong commitment to the Janus Henderson franchise, its employees, clients and other stakeholders, and help bring finality to the process.","length":493,"tagName":"p"},{"type":"text","content":"The Board of Directors of Janus Henderson unanimously approved the amendment to the merger agreement, acting on the recommendation of the Special Committee of its Board of Directors, finding that it provides superior, near-term value to shareholders, in an uncertain geopolitical and macroeconomic env...