Janus Henderson Group plc Receives Non‑Binding Buyout Proposal from Trian Fund Management and General Catalyst

Janus Henderson Group plc (NYSE: JHG) announced on 27 October 2025 that it has received a letter from Trian Fund Management, L.P., together with its affiliated funds, and General Catalyst Group Management, LLC, together with its affiliated funds. The letter outlines a non‑binding acquisition proposal (the “Proposal”) that seeks to acquire all of the outstanding ordinary shares of Janus Henderson not already owned or controlled by Trian for US $46.00 per share in cash.

Key Points of the Proposal

Context

• Trian first disclosed its investment in Janus Henderson in October 2020 and currently holds two seats on the Janus Henderson board.
• The Proposal is filed in compliance with Trian’s disclosure obligations as an amendment to its Schedule 13D filings.
• The board’s appointment of a special committee is a standard procedural step for evaluating unsolicited takeover offers.

Implications for Shareholders

The proposal, if accepted, would result in a cash transaction at a price that exceeds Janus Henderson’s 52‑week high of US $46.68 but is below its current closing price of US $41.63 (as of 23 October 2025). Shareholders will be advised of the outcome of the special committee’s evaluation before any potential transaction proceeds.

Company Profile (Relevance to the Proposal)

Janus Henderson Group plc is an active asset‑management firm headquartered in London, United Kingdom. It offers a broad spectrum of investment solutions, including equities, fixed income, quantitative equities, multi‑asset and alternative asset class strategies. The company is listed on the New York Stock Exchange and had a market capitalization of approximately US $6.49 billion as of the latest reporting. Its price‑earnings ratio stands at 15.69, indicating a valuation that is competitive within the financial sector.

Next Steps

• The special committee will conduct a thorough assessment of the Proposal, considering strategic fit, financial terms, and potential impact on shareholders.
• Janus Henderson will communicate the committee’s findings to shareholders and the market in a subsequent filing.

The outcome of this development will be closely monitored by investors, analysts, and market participants, given its potential to reshape the ownership structure of a major asset‑management firm in the capital markets industry.