New Potential Acquisition Deal on the Horizon for the Asset Management Industry. Janus Henderson has confirmed it has received an acquisition proposal from Trian Fund Management, its current majority partner, and General Catalyst Group Management, along with its affiliated funds (General Catalyst).
“The company’s board of directors intends to appoint a special committee to consider this proposal, which was received by letter on October 26 and contemplates the acquisition of all outstanding common shares of Janus Henderson not already owned or controlled by Trian, for $46.00 per share in cash,” Janus Henderson explained in its statement. This would value Janus Henderson’s business at approximately $7.1 billion.
The asset manager acknowledges that Trian first disclosed its investment in Janus Henderson in October 2020 and, as stated in its letter, “publicly submitted the proposal in accordance with its disclosure obligations, as an amendment to its Schedule 13D filings.” Currently, Trian has two representatives on Janus Henderson’s board of directors. “The company values the history of constructive collaboration it has maintained with Trian over the past few years. The special committee is expected to be composed of directors unaffiliated with either Trian or General Catalyst,” Janus Henderson clarified.
The asset manager made it clear that “there can be no assurance that the proposal will result in a definitive agreement or that a transaction with Trian, General Catalyst, or any other third party will be completed.” To conclude the matter, Janus Henderson stated in its release that it does not intend to make further comments unless it deems additional disclosures appropriate.
