Nelson Peltz Gets a Near $9 Billion Reality Check on Janus

Nelson Peltz’s initial attempt to buy fund manager Janus Henderson Group Plc for $46 a share — a mere 10% takeover premium — was shamelessly cheap. And the renowned shareholder activist was lucky to get the board to accept a sweetened $49 offer, worth $7.4 billion, with a less brazen but still cheek...

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