Janus Henderson in its $7.4 billion acquisition by Trian and General Catalyst

On December 22, 2025, Janus Henderson Group plc (NYSE: JHG), Trian Fund Management, L.P. and its affiliated funds, and General Catalyst Group Management, LLC and its affiliated funds announced that they have entered into a definitive agreement under which Janus Henderson will be acquired by Trian and General Catalyst in an all-cash transaction.  The transaction values Janus Henderson at an equity value of $7.4 billion—making it the largest asset management deal of 2025.  Janus Henderson previously announced that it had formed an independent special committee of its board of directors to evaluate a non-binding acquisition proposal received from Trian and General Catalyst.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to the special committee of the Janus Henderson board of directors.