Janus Henderson Stock Soars on Proposed Acquisition by Peltz’s Trian, General Catalyst

Nelson Peltz, founder and chief executive officer of Trian Fund Management, during the Future Investment Initiative (FII) Institute Priority Summit in Miami, on March 30, 2023. (Marco Bello/Bloomberg)

Shares of Janus Henderson Group jumped 11% Monday after the asset-management company disclosed that it had received an acquisition proposal from Nelson Peltz’s Trian Fund Management and General Catalyst Group Management.

Janus Henderson said its board of directors plans to appoint a special committee to consider the proposed acquisition. The company says Trian and General Catalyst would buy all of the outstanding ordinary shares of Janus Henderson not already owned or controlled by Trian for $46.00 per share in cash.

Shares of Janus Henderson closed on Monday at $46.35. The S&P 500 index was up 1.2%.

The company says it received the proposal on Oct. 26. Trian disclosed it was buying shares of Janus Henderson in October 2020, and it currently has two representatives on the Janus Henderson Board, according to Janus Henderson.

London-based Janus Henderson had $457.3 billion in assets under management as of June 30, according to the company. Most of its client assets are in North America.

Trian is an activist investment management firm co-founded by American billionaire Nelson Peltz. General Catalyst is a global investment and venture-capital firm. The companies say that Janus Henderson can enhance product offerings, client service capabilities, technology and talent more effectively as a privately held company than as a public one, according to a letter filed with the Securities and Exchange Commission.

Janus Henderson is expected to report third-quarter earnings on Thursday before the market opens.

Write to Andrew Welsch at andrew.welsch@barrons.com