Overview
- The revised proposal offers $40 in cash plus 0.250 Victory Capital share for each Janus Henderson share, which Victory values at $56.84 based on its March 16 closing price.
- Janus Henderson shareholders would own about 31% of the combined company under Victory’s terms, compared with a prior indication of 38% under its initial approach.
- Victory says the offer is fully financed with committed funding and no financing condition, and it points to a 95%+ client‑consent record in recent transactions.
- The new bid equates to roughly $1.2 billion more aggregate consideration and a 16% premium versus the existing $49‑per‑share Trian–General Catalyst take‑private.
- Janus Henderson confirmed receipt of the revised unsolicited proposal as its special committee maintains the Trian agreement in force with a shareholder vote scheduled for April 16.