VOYA to Strengthen Wealth Solutions With Buyout, Shares Rise
Voya Financial agreed to acquire OneAmerica’s retirement plan business for $50 million. This acquisition enhances Voya's capabilities and expands its client assets significantly. Voya expects to see over $200 million in net revenues post-acquisition. Transaction completion is pending regulatory approvals, expected by January 2025. Voya's stock has gained 3.2% year-to-date, lagging behind industry growth.
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