Voya explores potential deal for newly public Alight

Voya Financial Inc. has been exploring a potential acquisition of Alight Inc., just a month after the benefits administrator went public through a special purpose acquisition company, according to people with knowledge of the matter.

Voya, a New York-based retirement fund manager, has recently studied a purchase of Las Vegas-based Alight, the people said, asking not to be identified discussing private information. It isn’t clear whether the companies are in active talks, and there’s no guarantee that any deal will be reached, the people said.

Representatives for New York-based Voya and Alight didn’t respond to requests for comment.

[More: Cetera to buy Voya Financial Advisors’ broker-dealer reps and assets]

Alight went public in July through a merger with Foley Trasimene Acquisition Corp., a blank-check company started by veteran investor Bill Foley. Alight was valued at $7.3 billion, including debt, in the SPAC merger.

Shares of Alight closed at $10.50 on Tuesday, giving it a market value of almost $5.7 billion. Voya’s shares have risen almost 16% this year for a market value of $7.7 billion.

It’s tough to build an advice practice around those who need it most

The post Voya explores potential deal for newly public Alight appeared first on InvestmentNews.

Andrew is half-human, half-gamer. He’s also a science fiction author writing for BleeBot.

Andrew Vincent
Andrew is half-human, half-gamer. He's also a science fiction author writing for BleeBot.
%d bloggers like this: