---
schema_version: "secwatch.filing_event.v1"
accession: "0001535929-22-000106"
form_type: "8-K"
ticker: "VOYA"
cik: "0001535929"
company_name: "Voya Financial, Inc."
filed_at: "2022-11-02T23:59:59+00:00"
generated_at: "2026-06-22T13:43:58.830217+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Voya to acquire Benefitfocus for $10.50/share in cash; support from ~24% stockholders

## Summary
- Voya enters merger agreement to buy Benefitfocus (BNFG) for $10.50 per share in cash.
- Support agreements with BuildGroup and Indaba (approx. 24% voting power) to vote in favor of deal.
- Deal not subject to financing condition; HSR clearance and benefitfocus stockholder vote required.
- Termination fee of $14M payable by Benefitfocus if it accepts superior proposal or changes recommendation.

## SEC filing metadata
- accession: 0001535929-22-000106
- form_type: 8-K
- ticker: VOYA
- cik: 0001535929
- company_name: Voya Financial, Inc.
- filed_at: 2022-11-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1535929/000153592922000106/0001535929-22-000106-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1535929/000153592922000106/voya-20221101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001535929-22-000106
- JSON: https://secwatch.observer/filing/0001535929-22-000106.json
- Plain text: https://secwatch.observer/filing/0001535929-22-000106.txt

## Key facts
- Material Agreements
  Voya Financial, Inc. entered into Agreement and Plan of Merger with Benefitfocus, Inc. (effective 2022-11-01).
  - Action: entry
  - Agreement: merger
  - Counterparty: Benefitfocus, Inc.
  - Effective: 2022-11-01
  source text: On November 1, 2022, Voya Financial, Inc., a Delaware corporation (“ Voya ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) by and among Voya, Benefitfocus, Inc., a Delaware corporation (“ Benefitfocus ”), and Origami Squirrel Acquisition Corp, a Delaware corporation and wholly owned subsidiary of Voya (“ Merger Sub ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1535929/000153592922000106/0001535929-22-000106-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.