Janus Henderson clients, staff push to reject Victory Capital's takeover bid, WSJ reports

Group 1 - Janus Henderson clients and investment staff are urging the company to reject a takeover bid from Victory Capital in favor of a lower-priced deal from Trian and General Catalyst [1][2] - The bidding war for Janus Henderson, which manages $493 billion in assets, highlights ongoing industry consolidations as firms seek greater global scale to attract investor inflows [2] - Victory Capital has increased its cash-and-stock offer for Janus to $8.6 billion, intensifying efforts to disrupt the Trian-led deal [2] Group 2 - Clients, including senior officials from Morgan Stanley and Citigroup, have expressed concerns to Janus about Victory's plans and potential cost cuts [3] - Janus Henderson's committee will review the revised proposal from Victory but continues to recommend shareholders approve the Trian-led deal at an upcoming vote [3][4] - Some clients have warned that a deal with Victory could lead to a departure of portfolio managers, with top managers threatening to resign if the sale proceeds [4]