Janus Henderson ticks lower as Trian opposes Victory's sweetened rival bid

Asset manager Janus Henderson's JHG.N shares fall 1.7% to $50.51 in early trading

Trian Fund Management opposes Victory Capital's VCTR.O sweetened rival bid that rivals its own take-private deal with the asset manager

Trian, which is Janus' largest shareholder with a 20.7% stake, says it does not see a clear path to closing a deal with VCTR due to attrition risks

VCTR earlier this week revised its $8.6 billion cash-and-stock offer for rival JHG, intensifying the bidding war against Nelson Peltz's Trian

JHG stock continues to trade above Trian's $49 offer, indicating the market continues to expect that a deal will come above the $49 outcome, analysts have said

"Given the stock continues to trade above the $49 Trian offer with less than a month to go to the vote, it would seem more news is yet to follow. We expect elevated headlines over the coming weeks," TD Cowen analyst Bill Katz says

As of last close, JHG stock up 8% YTD