Hedge fund Trian Fund Management has raised objections to a revised takeover proposal from Victory Capital for Janus Henderson, intensifying a competitive bidding process for the firm, according to a report by Reuters.
Janus Henderson had previously rejected Victory’s earlier $8.6bn cash-and-stock offer, favouring instead a $7.4bn all-cash agreement with Trian and General Catalyst. However, Victory has since improved its terms, increasing the cash component of its proposal to $40 per share along...
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