Janus Henderson to be acquired by Trian Fund, General Catalyst for $7.4B

Janus Henderson (JHG), Trian Fund Management and its affiliated funds, and General Catalyst Group and its affiliated funds, announced that they have entered into a definitive agreement under which Janus Henderson will be acquired by Trian and General Catalyst in an all-cash transaction at an equity value of approximately $7.4B. The investor group includes strategic investors Qatar Investment Authority and Sun Hung Kai & Co., among others, all of whom are excited to partner with the company, its employees, and clients. Under the terms of the agreement, owners of shares not already owned or controlled by Trian will receive $49.00 per share in cash, representing an 18% premium to the unaffected closing price of Janus Henderson shares on October 24, the last trading day before the initial Trian and General Catalyst proposal was made public. Trian currently owns 20.6% of the company’s outstanding shares and has been a shareholder since 2020 with board representation since 2022. This will be one of several transactions that the Trian and the General Catalyst teams have accomplished together. As a private company, Janus Henderson would continue to be led by the current management team with Ali Dibadj as CEO and would maintain its main presence in both London, England, and Denver, Colorado. The transaction was unanimously approved and recommended by the special committee after evaluating the transaction with Trian and General Catalyst and completing a review process. Acting upon the recommendation of the special committee, the board subsequently approved the transaction by unanimous vote.