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 billion all-cash deal at an April vote, which it had agreed to in December.