Janus Henderson climbs after new $8.6 billion cash-and-stock offer from Victory Capital

Shares of money manager Janus Henderson JHG.N up 3.2% at $52.05 premarket

Victory Capital VCTR.O submitted a revised $8.6 billion offer for co, intensifying its effort to block the take-private deal with Trian and General Catalyst

The move comes days after Janus rejected Victory's earlier $8.6 billion cash-and-stock offer with a lower cash component, saying the proposal was not superior to the existing Trian-led deal

Under the revised proposal, Victory is now offering $40 in cash and 0.25 of its shares for each Janus share vs its earlier offer of $30 in cash and 0.35 of its shares

As of last close, JHG stock up 6% YTD, following a 11.8% rise in 2025