Janus Henderson Gets $46-a-Share Takeover Proposal From Trian and General Catalyst

Overview

• Trian Fund Management and General Catalyst submitted a joint, non-binding bid to acquire the remaining shares for $46 apiece.
• The proposed price values Janus Henderson at roughly $7.2 billion and represents about a 10.5% premium to the previous close.
• The stock touched a 52-week intraday high of $49.42 and closed up 11.34% at $46.35 following the announcement.
• A special board committee excluding directors affiliated with the bidders will evaluate the proposal.
• Trian has been an investor since 2020 and holds two board seats, and the company cautioned that no deal is assured.