Asset manager Janus Henderson has agreed to be acquired by investors Trian Fund Management and General Catalyst, CNBC first reported Monday.
Trian and General Catalyst will pay $49 per share in cash, valuing Janus at about $7.4 billion. That represents a premium of 6.5% to Janus' closing price on Friday and about 18% above the stock's Oct. 24 closing price. The Wall Street Journal reported on Oct. 27 that Trian and General had approached Janus about a takeover.
The deal is expected to close in mid-2026, it said.
Trian has been an investor in Janus since the end of 2020. During this time the stock has roughly doubled. Trian also has two representatives on the company's board of directors.
With the acquisition, “we see a growing opportunity to accelerate investments in people, technology and customers,” Trian CEO Nelson Peltz said in a statement.
Ali Dibadj, CEO of Janus Henderson, said: “Through this partnership with Trian and General Catalyst, we are confident that we can further invest in our product offering, customer service, technology and talent to accelerate our growth.”
Janus shares rose more than 3% on the news.
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Correction: Janus shares rose on the news. An earlier version misstated the company name.