Victory Capital raises cash in new Janus Henderson bid

Victory Capital raised the cash component of its Janus Henderson bid to $40 per share on Tuesday. The move aims to counter a $7.4 billion Trian-led buyout.

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Victory Capital Holdings, Inc. has submitted a revised acquisition proposal for its rival Janus Henderson Group plc, intensifying efforts to intercept a competing take-private agreement. The move comes shortly after the target company rejected an earlier $8.6 billion cash-and-stock bid, asserting that the terms were not superior to an existing deal led by Nelson Peltz’s Trian and the venture capital firm General Catalyst.

The Wall Street sign is pictured at the New York Stock Exchange (NYSE) in Manhattan, New York, on March 9, 2020. REUTERS/Carlo Allegri
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