Dec 22, 2025 - Business

Janus Henderson to be bought by Trian and General Catalyst for $7.4B

Trian Fund Management and General Catalyst agreed to acquire asset manager Janus Henderson for $7.4 billion, the companies announced Monday.

Why it matters: It's a culmination of Trian's five-year effort to turn around Janus' operations.

Zoom in: Trian and General Catalyst will pay $49 per share in cash, an approximately 6.5% premium from Friday's close.

Catch up quick: Trian and GC have been in talks with Janus since October, per The Wall Street Journal.

Activist Trian has backed Janus since late 2020 and has two board seats. It helped oust Janus management in 2022 amid a falling share price.

What's next: The deal is expected to close mid-2026.