Victory Capital has submitted a competing acquisition proposal for Janus Henderson, valued at $57.04 per share, which it claims is higher than the previous offer from Trian Fund Management and General Catalyst.
The proposed deal includes $30.00 in cash and 0.350 shares of Victory Capital common stock per Janus Henderson share, representing a 37% premium. Victory Capital anticipates $500 million in cost synergies and has adjusted certain conditions of the deal, such as reducing the client consent threshold and lowering termination fees.
The company views its offer as a "Company Superior Proposal" and urges Janus Henderson's Special Committee to evaluate it.
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