Shares in asset management firm Janus Henderson (JHG) rose over 3% today after it was snapped up for $7.4 billion by Nelson Peltz’s Trian Fund Management and General Catalyst.
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Janus Shareholders Get a Premium
As part of the all-cash deal, expected to close in the middle of next year, shareholders will receive $49 per share, representing a 6.5% premium to Friday’s close of $47.56.
Trian has been an activist investor in Janus Henderson since late 2020. It holds a 20.6% stake and has two representatives on the board. Over that period the Janus Henderson share price has climbed nearly 45% – see below:
General Catalyst is described as a global investment and transformation company with a focus on applying AI to enhance business operations.
It and Trian made a bid for Janus Henderson back in October of $46 a share, valuing the business at $7 billion.
At the time Peltz said that a deal would “de-risk an investment that we believe is highly sensitive to capital market and geopolitical dynamics.”
What the Future Holds for Janus Henderson
As a private company post-transaction, Janus Henderson will continue to be led by CEO Ali Dibadj and will preserve its key operational bases in London and Denver.
Ali Dibadj, Chief Executive Officer of Janus Henderson, said: “During our 91-year history, Janus Henderson has been public and private at different times, and it has never lost focus on investing in a brighter future together for its clients and employees. With this partnership we are confident that we will be able to further invest in our product offering, client services and technology.”
Nelson Peltz, Chief Executive Officer and Founding Partner of Trian, said, “Our team at Trian has successfully invested in and grown many iconic public and private companies over the years. As a significant shareholder of JHG with Board representation since 2022, we are proud of the company’s performance. We see a growing opportunity to accelerate investment in people, technology, and clients.”
Is JHG a Good Stock to Buy Now?
On TipRanks, JHG has a Moderate Buy consensus based on 4 Buy and 3 Hold ratings. Its highest price target is $55. JHG stock’s consensus price target is $51.71, implying an 8.63% upside.
