Janus Henderson Acquired by Trian and General Catalyst in $7.4 Billion Deal

• Janus Henderson Group plc (JHG) has agreed to be acquired by Trian Fund Management and General Catalyst in an all-cash deal valued at approximately $7.4 billion, with shareholders receiving $49 per share, representing a 6.5% premium to the prior Friday’s close of $47.56.
• Trian, an activist investor holding a stake in Janus Henderson since late 2020 and with two board representatives, has seen the stock roughly double during its ownership period; the acquisition is expected to close in mid-2026.
• The transaction is viewed as a strong affirmation of Janus Henderson’s long-term strategy, with the company set to continue under CEO Ali Dibadj as a private entity focused on enhancing investments in people, technology, and client services.

Janus Henderson Group plc (JHG) announced today that it has entered into a definitive agreement to be acquired by Trian Fund Management and General Catalyst in an all-cash transaction valuing the company at approximately $7.4 billion. Under the terms, shareholders will receive $49 per share in cash for shares not already owned or controlled by Trian, representing a 6.5% premium to the stock’s closing price of $47.56 on the prior Friday and an 18% premium to the closing level on October 24, the last trading day before the initial proposal became public.

Trian Fund Management, an activist investor, has held a stake in Janus Henderson since late 2020, during which the stock has roughly doubled in value. Trian maintains two representatives on the company’s board and brings extensive experience in the asset management sector. General Catalyst, a prominent investment firm known for its focus on technology and innovation, joins Trian in this partnership, marking one of several collaborative transactions between the two groups.

The acquisition reflects confidence in Janus Henderson’s long-term strategy, with the company having operated as both a public and private entity over its 91-year history while maintaining a focus on client and employee outcomes. 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. The deal is expected to close in mid-2026, subject to customary conditions including regulatory approvals, client consents, and shareholder approval.

Nelson Peltz, CEO of Trian, emphasized the potential to accelerate investments in people, technology, and clients. Ali Dibadj, CEO of Janus Henderson, described the partnership as a strong endorsement of the company’s direction, expressing confidence in further enhancing product offerings, client services, technology, and talent to drive growth.

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