Janus Henderson Undervalues Shares in Deal with Trian Partners, General Catalyst: BofA

Janus Henderson's deal with Trian Partners and General Catalyst undervalues shares, according to Bank of America. The deal, which values the company at $6.4 billion, is seen as a negative for shareholders as it represents a 20% discount to the company's intrinsic value. The investment bank believes that the company's shares are worth at least $7.8 billion.