12:31 PM EDT, 03/17/2026 (MT Newswires) -- (Updates with Janus Henderson's ( JHG ) response in the headline and first two paragraphs.)

Janus Henderson Group ( JHG ) said Tuesday the special committee of its board has received and will evaluate a revised unsolicited non-binding proposal from Victory Capital ( VCTR ) .

Janus Henderson ( JHG ) said the merger agreement with Trian Fund, General Catalyst Group and their affiliated funds remains in effect, and the board continues to recommend that shareholders vote in favor of the merger at the special meeting on April 16.

Victory Capital ( VCTR ) said earlier Tuesday it sent a revised "superior" proposal to acquire Janus Henderson ( JHG ) for $40 per share in cash and 0.250 shares of Victory Capital ( VCTR ) common stock for each Janus Henderson ( JHG ) share, an increase of $10 per share from its previous proposal.

Under the revised proposal, Janus Henderson ( JHG ) shareholders would receive a total consideration of $56.84 per Janus Henderson ( JHG ) share, Victory Capital ( VCTR ) said.

Victory Capital ( VCTR ) said it does not agree with Janus Henderson's ( JHG ) assessment that its acquisition proposal presents risks in obtaining the required client consents. The asset management firm added that it believes both Janus Henderson's ( JHG ) and its own shareholders will support the transaction, contrary to the concerns raised by Janus Henderson's ( JHG ) board.

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