Shares in Janus Henderson (NYSE:JHG) ended a busy after-hours session 11% higher after the veteran activist investor Nelson Peltz made a provisional offer to buy the company outright.
The bid, worth $7.2 billion, was disclosed on Monday and values the remaining 79.6% of the asset manager that Peltz does not already own at $46 a share.
The proposal comes from a consortium led by Peltz’s Trian Partners and venture capital firm General Catalyst. Janus Henderson, which manages $457 billion of assets globally, said it would appoint a special committee to review the non-binding offer.
Peltz, 83, is known for high-profile activist campaigns at firms including Unilever, Heinz and Disney. Through Trian, he first took a stake in Janus Henderson in 2020 and now owns just over 20%.
The father-in-law of Brooklyn Beckham said the deal would give shareholders the chance to realise gains from the turnaround led by chief executive Ali Dibadj and allow the business to invest more heavily in technology, products and talent without the constraints of public ownership.
Janus Henderson has faced years of outflows as investors shift to cheaper index-tracking funds, though performance has improved recently. The company stressed that discussions are at an early stage and there is no certainty any deal will proceed.