Trian Fund Management Reduces Stake in Janus Henderson Group PLC to 16.65% Amid Pending Acquisition

Trian Fund Management, L.P., led by Nelson Peltz and Peter W. May, filed Amendment No. 17 to its Schedule 13D for Janus Henderson Group PLC (JHG). On May 12, 2026, the reporting persons sold 6,213,418 ordinary shares in the open market at an average price of $51.6001 per share for portfolio management purposes. Following this transaction, Trian beneficially owns 25,654,382 shares, representing approximately 16.65% of the company's outstanding stock. Despite this divestment, Trian remains committed to its previously announced acquisition of Janus Henderson in partnership with General Catalyst. Under a Voting and Rollover Agreement dated December 21, 2025, a Trian affiliate will roll over at least 24,750,000 shares toward the transaction. Janus Henderson shareholders approved the acquisition on April 16, 2026, and the deal is expected to close in mid-2026, pending final regulatory approvals and client consents. The reporting persons maintain shared voting and dispositive power over the remaining holdings.