Investment firms Trian and General Catalyst announced Tuesday they have increased their acquisition proposal for asset management company Janus Henderson to $52 per share.
The enhanced bid provides a 25% premium above Janus Henderson’s unaffected share price and exceeds their previous proposal by $3 per share. This move escalates the corporate takeover competition with Victory Capital, which continues its own pursuit of the asset management firm.
According to Janus Henderson, “Trian and General Catalyst have already made significant progress toward closing and have a clear path to satisfying all outstanding conditions.”
Trian holds the largest ownership position in Janus Henderson with a 20.7% stake and expressed reservations Friday regarding Victory Capital’s improved proposal.
