March 20 (Reuters) – Trian Fund Management on Friday said it has serious concerns about Victory Capital’s sweetened offer for Janus Henderson that rivals its own take-private deal with the asset manager.
Janus had previously rejected an $8.6 billion cash-and-stock offer from Victory, saying the bid carried closing risk and was not superior to the existing $7.4 billion all-cash deal with Trian and venture capital firm General Catalyst.
But Victory revised its offer earlier in the week to include a higher cash component.
Janus Henderson declined to comment. Victory Capital did not immediately respond to Reuters requests for comment.
Trian is Janus’ largest shareholder with a 20.7% stake.
(Reporting by Pritam Biswas in Bengaluru; Editing by Sahal Muhammed)
Comments