Janus Henderson ticks lower as Trian opposes Victory's sweetened rival bid

Janus Henderson

20/03/2026 13:48

** Asset manager Janus Henderson's JHG.N shares fall 1.7% to $50.51 in early trading

** Trian Fund Management opposes Victory Capital's VCTR.O sweetened rival bid that rivals its own take-private deal with the asset manager

** Trian, which is Janus' largest shareholder with a 20.7% stake, says it does not see a clear path to closing a deal with VCTR due to attrition risks

** VCTR earlier this week revised its $8.6 billion cash-and-stock offer for rival JHG, intensifying the bidding war against Nelson Peltz's Trian

** JHG stock continues to trade above Trian's $49 offer, indicating the market continues to expect that a deal will come above the $49 outcome, analysts have said

** "Given the stock continues to trade above the $49 Trian offer with less than a month to go to the vote, it would seem more news is yet to follow. We expect elevated headlines over the coming weeks," TD Cowen analyst Bill Katz says

** As of last close, JHG stock up 8% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))