Janus Henderson Said to Oppose Advent’s $1.3 Billion U-blox Bid

Janus Henderson Group Inc., a major shareholder in U-blox Holding AG, is reportedly opposing Advent International's $1.3 billion (1.05 billion Swiss franc) bid to acquire the Swiss chipmaker. According to sources familiar with the matter, Janus Henderson, which holds a significant stake in U-blox, does not intend to tender its shares for Advent's proposed takeover. The move suggests that Janus Henderson believes the offered price is too low and that U-blox's long-term potential may be undervalued. The proposed acquisition by Advent, a private equity firm, would mark a significant change in U-blox's ownership structure. The chipmaker is known for its GPS and wireless communication technology used in various industries, including automotive, industrial, and consumer electronics. The news of Janus Henderson's opposition to the deal highlights the potential challenges Advent may face in securing the necessary shareholder support to complete the transaction. The outcome of this bid could have broader implications for the semiconductor industry and the valuation of similar technology companies.