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Victory Capital Raises Bid to $8.6 Billion for Janus

3/19/2026

Summary

Story summary

Victory Capital raised its bid for Janus Henderson to $8.6 billion in cash and stock, aiming to disrupt Janus Henderson's deal with Trian Fund Management and General Catalyst.
Janus Henderson manages $493 billion and previously rejected Victory's initial offer over closing risks.
Internal pressure from clients and employees mounts against Victory Capital's takeover.
Janus plans to review Victory's proposal but continues to recommend the Trian-led deal at the April vote.

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Story summary

Victory Capital raised its bid for Janus Henderson to $8.6 billion in cash and stock, aiming to disrupt Janus Henderson's deal with Trian Fund Management and General Catalyst.
Janus Henderson manages $493 billion and previously rejected Victory's initial offer over closing risks.
Internal pressure from clients and employees mounts against Victory Capital's takeover.
Janus plans to review Victory's proposal but continues to recommend the Trian-led deal at the April vote.