Janus Henderson Group plc (NYSE:JHG) stock rose Thursday after a heated takeover battle pushed the asset manager into the spotlight, with Victory Capital Holdings, Inc. (NASDAQ:VCTR) unveiling a richer, fully financed bid that topped a rival offer.
Details
Victory Capital has proposed a total consideration of $57.04 per share for Janus Henderson, which includes $30.00 in cash and a fixed exchange ratio of 0.350 shares of Victory Capital common stock.
This offer represents a 37% premium to Janus Henderson’s unaffected share price as of October 24, 2025, and is approximately 16% higher than the transaction currently contemplated with Trian Fund Management.
The proposal aims to provide substantial upfront cash proceeds and meaningful upside for Janus Henderson shareholders, who would own about 38% of the combined company for an enterprise value of around $16 billion.
Victory Capital emphasizes that its offer is a “Company Superior Proposal” due to its higher value and minimal execution risk, urging Janus Henderson’s Special Committee to consider it immediately.
David C. Brown, Chairman and CEO of Victory Capital, said, “Despite submitting multiple superior proposals and repeatedly attempting to engage with Janus Henderson prior to the signing of the Trian merger agreement, the Janus Henderson Special Committee declined any meaningful dialogue. The letter we sent to the Special Committee today should clear up any misperception concerning the strength of our proposal and ability to complete a transaction.”
”We believe it is important that both the Special Committee and Janus Henderson investors have correct and complete information about our compelling and actionable proposal. We are confident that a thorough evaluation will demonstrate that our proposal represents a superior alternative with minimal execution risk, and we urge the Janus Henderson Special Committee to fulfill its fiduciary duties and act in the best interest of Janus Henderson shareholders by promptly engaging with us.”
Technical Analysis
The stock is currently trading 6.08% above its 20-day simple moving average (SMA) and 12.5% above its 100-day SMA, indicating a strong short-term upward trend. Over the past 12 months, shares have increased, and they are currently positioned closer to their 52-week highs than lows, reflecting positive momentum.
The RSI is at 50, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold at this time. Meanwhile, MACD is at 0.15, below its signal line at 0.22, indicating bearish pressure on the stock.
The combination of neutral RSI and bearish MACD suggests mixed momentum for Janus Henderson.
- Key Resistance: $54.00
- Key Support: $50.00
Earnings & Analyst Outlook
JHG is slated to provide its next financial update on April 30, 2026.
- EPS Estimate: $1.00 (Up from 79 cents)
- Revenue Estimate: $710.77 Million (Up from $621.40 Million)
- Valuation: P/E of 9.6x (Indicates value opportunity)
Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $44.23. Recent analyst moves include:
- B of A Securities: Downgraded to Neutral (Lowers Target to $49.00) (Jan. 5)
- Evercore ISI Group: In-Line (Lowers Target to $49.00) (Dec. 23, 2025)
- TD Cowen: Downgraded to Hold (Target $49.00) (Dec. 23, 2025)
Price Action: Janus Henderson Group shares were up 5.74% at $53.03 at the time of publication on Thursday. The stock is trading at a new 52-week high, according to Benzinga Pro data. Victory Capital Holdings shares were down 8.40% at $70.78.
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