Janus Henderson: Clients' Approval of Victory Deal Was in Doubt -- Market Talk

Dow Jones03-25

1310 ET - Janus Henderson has rebuffed Victory Capital's acquisition bid, citing risk of the deal's rejection from the company's clients. Key clients and distribution partners representing more than half of revenue run-rate have expressed "significant reservations about maintaining their relationships with Janus Henderson if it were to enter into a transaction with Victory," Janus Henderson says. Clients have said they would need to conduct extensive due diligence over the course of months to determine whether they would consider allowing the sale. Because of the high concentration of revenue run-rate among Janus clients, the disapproval of just a few key clients could've put the deal in doubt, Janus says. (nicholas.miller@wsj.com)

(END) Dow Jones Newswires

March 24, 2026 13:10 ET (17:10 GMT)

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Clients have said they would need to conduct extensive due diligence over the course of months to determine whether they would consider allowing the sale. Because of the high concentration of revenue run-rate among Janus clients, the disapproval of just a few key clients could've put the deal in doubt, Janus says. 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