Victory Capital Holdings has delivered a revised proposal to the special committee of Janus Henderson Group offering $57.04 per share, consisting of $30.00 in cash and 0.350 shares of Victory common stock.
The offer represents an approximately 16 percent premium to the company’s currently contemplated transaction with Trian Fund Management. The combined company would have an enterprise value of approximately $16 billion, with Janus Henderson (NYSE: JHG) shareholders expected to own about 38 percent. Victory (Nasdaq: VCTR) asserts that its bid qualifies as a “Company Superior Proposal” under Janus Henderson’s merger agreement with Trian, citing no financing contingencies, full specific performance protections, a reduced client consent condition, a lower termination fee and no shareholder approval payment requirement.
Janus Henderson Group is a global asset manager offering active investment strategies across equities, fixed income, multi-asset and alternatives. The firm operates across North America, Europe and Asia-Pacific, serving institutional, intermediary and retail clients.