On March 24, 2026, Janus Henderson Group plc announced an amendment to its merger agreement with Trian Fund Management and General Catalyst, increasing the cash consideration for shareholders from $49.00 to $52.00 per share. This amendment represents a $3.00 increase, translating to a 25% premium over the unaffected share price prior to the initial proposal. The revised agreement aims to enhance shareholder value and is positioned as the only actionable proposal following the rejection of a competing offer from Victory Capital Holdings. The Special Committee of Janus Henderson's Board has determined that the Victory proposal does not meet the criteria for a superior proposal, citing significant risks associated with client consent and employee retention. The transaction with Trian and General Catalyst is expected to close by mid-2026, providing a clear path for shareholders to realize value in an uncertain market environment. The Board encourages shareholders to vote in favor of the merger agreement at the upcoming meeting scheduled for April 16, 2026.

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