Chris Hughes, Columnist

Nelson Peltz Is Giving Hedge Funds a Little Sweetener

March 24, 2026 at 6:10 PM UTC

Updated on

March 25, 2026 at 9:55 AM UTC

Chris Hughes is a Bloomberg Opinion columnist covering deals. Previously, he worked for Reuters Breakingviews, the Financial Times and the Independent newspaper.

Nelson Peltz: Best and final.
Photographer: Calla Kessler/Bloomberg

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Nelson Peltz has blinked, sweetening his bid for Janus Henderson Group Plc to a “best and final” $8 billion. The billionaire activist investor can be pushed around a little bit. That may have to suffice for Janus’ shareholders.

There was no strict need for Peltz’s Trian Fund Management LP to lift its bid for the London-based asset manager to $52 from $49 per share. Trian and Janus had a firm deal. Janus had argued that a higher cash-and-stock proposal from Victory Capital Holdings Inc. was full of holes and couldn’t be delivered.