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

Janus Henderson Group Inc. will not tender its shares in U-blox Holding AG for Advent’s 1.05 billion Swiss franc ($1.3 billion) takeover bid of the chipmaker, according to people familiar with the matter.

Janus Henderson, a top-10 U-blox shareholder with a 5% stake, is disappointed the firm’s management accepted an offer from Advent without spending more time exploring strategic options, the people said. The asset manager estimates fair value for U-blox would be about double Advent’s offer price, based on the firm’s stated targets for the next couple of years, the people said.

In August, Advent proposed to buy U-blox ...