<p>胜利资本控股公司已放弃对 Janus Henderson Group Plc 近 90 亿美元的收购提议，结束了一场短暂而激烈的收购战。这一决定是在 Trian Fund Management 和 General Catalyst 提出每股 52 美元的修订报价后做出的，该报价迅速获得了 Janus Henderson 董事会的支持，并建议股东批准该交易。董事会支持的变化似乎缩小了胜利资本的前进路径，实际上关闭了其竞争提案的窗口。</p>
<p>在结果公布的几周前，围绕这一过程的摩擦逐渐加剧。胜利资本认为 Janus Henderson 的特别委员会没有充分考虑其提议，而是倾向于他们认为的一个不太吸引人的替代方案。董事会此前曾拒绝了胜利资本的早期提案，理由是担心隐含的成本削减可能导致员工离职，并可能削弱投资表现。同时，内部抵制也浮现，投资团队和投资组合经理警告称，胜利资本主导的交易可能会扰乱公司的文化，有些人表示如果交易继续进行，他们可能会退出。</p>
<p>尽管遭遇挫折，胜利资本表示其更广泛的收购战略仍在进行中，并重申其认为 Janus Henderson 是一家拥有经验丰富投资专业人士的强大企业。此情况的背景与 Janus Henderson 在 2017 年合并后的长期重新定位有关，该合并旨在应对主动资产管理中的结构性压力，但导致了持续的资金流出和内部紧张。在首席执行官 Ali Dibadj 的领导下，自 2022 年以来，该公司在稳定客户流入和改善势头方面取得了进展，这些发展可能影响了董事会的立场和投资者在竞标过程中的预期。</p>

VCTR

<p>胜利资本控股公司已撤回对 Janus Henderson Group Plc 的 90 亿美元收购提议，此前一项每股 52 美元的竞争性报价获得了董事会的支持。紧张局势升级，因为胜利声称 Janus 董事会未能充分考虑其提案，该提案之前因担忧员工流失和投资表现而被拒绝。尽管面临这一挫折，胜利仍然致力于其收购战略，视 Janus Henderson 为一家强大的企业。这一情况反映了 Janus Henderson 在首席执行官 Ali Dibadj 的领导下，持续努力在 2017 年合并后实现稳定</p>

<p>Victory Capital Holdings  has stepped away from its nearly $9 billion bid for Janus Henderson Group Plc , bringing a short but intense takeover battle to an end. The decision followed a revised $52-per-share offer from Trian Fund Management and General Catalyst, which quickly secured backing from Janus Henderson's board and a recommendation for shareholders to approve the deal. The shift in board support appears to have narrowed Victory's path forward, effectively closing the window on its competing proposal.</p>
<div class="lb-trans"><p>胜利资本控股公司已放弃对 Janus Henderson Group Plc 近 90 亿美元的收购提议，结束了一场短暂而激烈的收购战。这一决定是在 Trian Fund Management 和 General Catalyst 提出每股 52 美元的修订报价后做出的，该报价迅速获得了 Janus Henderson 董事会的支持，并建议股东批准该交易。董事会支持的变化似乎缩小了胜利资本的前进路径，实际上关闭了其竞争提案的窗口。</p>
</div><p>In the weeks leading up to the outcome, friction around the process had been building. Victory argued that Janus Henderson's special committee did not fully engage with its offer and instead leaned toward what it viewed as a less attractive alternative. The board had previously rejected an earlier Victory proposal, citing concerns that the implied cost reductions could lead to employee departures and potentially weaken investment performance. At the same time, internal resistance surfaced, with investment teams and portfolio managers warning that a Victory-led transaction could disrupt the firm's culture, with some signaling they might exit if the deal proceeded.</p>
<div class="lb-trans"><p>在结果公布的几周前，围绕这一过程的摩擦逐渐加剧。胜利资本认为 Janus Henderson 的特别委员会没有充分考虑其提议，而是倾向于他们认为的一个不太吸引人的替代方案。董事会此前曾拒绝了胜利资本的早期提案，理由是担心隐含的成本削减可能导致员工离职，并可能削弱投资表现。同时，内部抵制也浮现，投资团队和投资组合经理警告称，胜利资本主导的交易可能会扰乱公司的文化，有些人表示如果交易继续进行，他们可能会退出。</p>
</div><p>Despite the setback, Victory indicated that its broader acquisition strategy remains in place and reiterated its view that Janus Henderson represents a strong business with experienced investment professionals. The backdrop to the situation ties into Janus Henderson's longer-term repositioning following its 2017 merger, which had aimed to address structural pressures in active asset management but resulted in extended outflows and internal tensions. Under Chief Executive Officer Ali Dibadj, who has led the firm since 2022, the company has made progress in stabilizing client flows and improving momentum, developments that could have influenced both board positioning and investor expectations during the bidding process.</p>
<div class="lb-trans"><p>尽管遭遇挫折，胜利资本表示其更广泛的收购战略仍在进行中，并重申其认为 Janus Henderson 是一家拥有经验丰富投资专业人士的强大企业。此情况的背景与 Janus Henderson 在 2017 年合并后的长期重新定位有关，该合并旨在应对主动资产管理中的结构性压力，但导致了持续的资金流出和内部紧张。在首席执行官 Ali Dibadj 的领导下，自 2022 年以来，该公司在稳定客户流入和改善势头方面取得了进展，这些发展可能影响了董事会的立场和投资者在竞标过程中的预期。</p>
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Victory Capital Withdraws $9 Billion Janus Bid After $52 Offer Backed

在 52 美元的报价获得支持后，Victory Capital 撤回了 90 亿美元的 Janus 收购提议