US asset manager Victory Capital has publicly unveiled an $8.6bn bid for Janus Henderson Group, challenging the previously agreed $7.4bn takeover by Nelson Peltz’s Trian hedge fund and General Catalyst, according to a report by Reuters.
Victory’s offer proposes $30 in cash plus 0.350 of its shares for each Janus Henderson share, valuing the combined entity at $57.04 per share and creating a money manager with over $800bn in assets under management. Analysts note the bid reflects a 12.5x multiple...
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