Overview
- Trian and General Catalyst, which raised their terms Tuesday, agreed to buy Janus Henderson for $52 in cash per share.
- Janus Henderson said its Special Committee and full board gave unanimous approval to the amended agreement.
- Victory Capital withdrew its rival bid, citing its requirement for a negotiated deal backed by the Special Committee.
- The revised deal allows a $1 per share quarterly dividend if regulatory approvals push closing past June 30, 2026.
- Trian already owns about 20% of Janus Henderson, and the contest reflects consolidation pressure on asset managers as costs rise and money shifts to index funds.