Janus Henderson receives acquisition bid
Global asset manager Janus Henderson could be acquired after receiving a non-binding acquisition proposal jointly from a private investment firm and venture capital firm.
Trian is owned by hedge fund manager Nelson Peltz while General Catalyst Group is a technology venture capital firm.
Janus Henderson said its board of directors intend to appoint a special committee to consider the proposal and contemplates the acquisition of all of the outstanding ordinary shares of Janus Henderson not already owned or controlled by Trian for $46.00 per share in cash.
Trian currently has two representatives on the Janus Henderson board, and the company said it "appreciates the history of constructive engagement with Trian" since it first disclosed its investment in 2020. The special committee is expected to be comprised of directors not affiliated with Trian or General Catalyst.
Janus Henderson was formerly listed on the ASX until November 2023 when it de-listed in favour of only being on the New York Stock Exchange (NYSE).
Should the deal proceed, this would be the second major M&A deal in recent years after the firm formerly known as Henderson Global Investors merged with Janus Capital in June 2017. It opted to remain listed on the ASX as well as the NYSE after the merger as Henderson Group has Australian roots, having formerly been owned by AMP.
Ali Dibadj, chief executive, said: “Janus Henderson has received a non-binding acquisition proposal submitted by Trian, with whom we have had constructive engagement for five years, and General Catalyst, a growth venture capital firm.
“We appreciate the proposal’s desire for continuity for Janus Henderson’s clients and other stakeholders. While the special committee appointed by the Board evaluates the proposal, we remain, as always, committed to our mission of delivering differentiated insights, disciplined investments, and world-class service.”
Meanwhile, in the firm’s third-quarter results for the three months to 30 September, it said assets under management were up 6 per cent on the previous quarter and 27 per cent year-on-year to stand at US$484 billion.
Looking at intermediary flows, these returned to inflows of US$5.1 billion ($7.8 billion) after seeing outflows of US$1.2 billion in the previous quarter. Total inflows were US$7.8 billion for the quarter, the sixth consecutive quarter of positive inflows.
Ali Dibadj, chief executive, said: “We are pleased to report another strong quarter for Janus Henderson, reflecting our continued momentum across the business. This quarter marks our sixth consecutive quarter of positive net flows, with a 7 per cent organic growth rate, reinforcing the strength of our global distribution network and the breadth of our investment offerings.
“Our assets under management reached a record high of US$483.8 billion, a 6 per cent increase over the previous quarter and a 27 per cent rise from a year ago.”
AUTHOR
Laura Dew
Recommended for you
Investment manager Salter Brothers has partnered with private equity firm Kilara Capital to launch an Australian sustainable investment platform focusing on decarbonisation.
Fresh off launching three active ETFs to the Australian market, Avantis Investors is already planning to expand its range with two further products next year.
Ausbil is growing its active ETF range with an ESG product in collaboration with sister company Candriam.
Philanthropic investment group Future Generation’s CEO, Caroline Gurney, will step down from her role at the start of next year.
