Victory Capital has withdrawn its proposal to acquire Janus Henderson, the company announced on Tuesday. The decision comes hours after Nelson Peltz’s Trian Fund Management and General Catalyst increased their offer to purchase the asset manager. Victory Capital is an investment management firm offering a diverse range of investment strategies and services. Janus Henderson Group is a global asset manager offering a range of financial products and services to institutions, intermediaries and individual investors.
The battle for Janus Henderson had intensified, with Victory Capital maintaining that its offer was superior, despite Janus Henderson expressing a preference for the competing bid. Victory Capital emphasised that it was only interested in pursuing a negotiated transaction that had the full support of the Janus Henderson Special Committee.
In a statement, Victory Capital explained their position, noting their commitment to a consensual deal. The withdrawal marks the end of Victory Capital’s efforts to acquire Janus Henderson amid the escalating bidding war.
Following the announcement, Janus Henderson’s shares experienced a decline of 1.5% in extended trading. Conversely, Victory Capital’s shares saw an increase of 2% following news of the withdrawal.
