March 18 (Reuters) - Clients and investment staff at

Janus Henderson ( JHG ) are urging the asset manager to reject a

takeover bid from Victory Capital ( VCTR ) in favor of a

lower-priced offer from Nelson Peltz's Trian and venture firm

General Catalyst, the Wall Street Journal reported on Wednesday.

The bidding war for the $493 billion money manager

highlights ongoing consolidation across the industry as firms

seek greater global scale to attract inflows.

Victory Capital ( VCTR ) on Tuesday sweetened its $8.6 billion

cash-and-stock offer for Janus, stepping up efforts to block the

Trian-led deal.

Clients, including senior officials at wealth-management

arms of Morgan Stanley ( MS ) and Citigroup ( C ), have

expressed their discomfort to Janus executives about Victory's

plans and potential cost cuts, the WSJ reported, citing sources.

Victory said it has not yet shared its plans for the

combined company or how it would serve clients, retain staff and

invest in them.

"We believe that anything that has been represented to date

to Janus Henderson ( JHG ) clients and employees regarding Victory

Capital's ( VCTR ) intentions... does not reflect our vision and track

record and may be an attempt to prevent real engagement," a

company spokesperson said.

Meanwhile, Janus said client feedback has raised "serious

concerns" about securing necessary approval, according to WSJ.

Janus Henderson ( JHG ) and Trian did not immediately respond to

Reuters' request for comment.

Some clients told Janus that a sale could trigger an exodus

of portfolio managers, the WSJ added. A group of senior managers

have also threatened to resign if the company proceeds with a

sale to Victory, the paper reported.

Janus said its committee would review Victory's revised

proposal but continues to recommend shareholders approve the

Trian-led $7.4 billionall-cash deal at an April vote, which it

had agreed to in December.