The transaction is sourced from an 8-K filing with the SEC, filed via SEC EDGAR and published on January 13, 2023. The deal's current status is pending regulatory approval.
On the financial advisory side, Perella Weinberg Partners LP served as financial advisor to Voya, the acquirer, in a lead capacity, while Barclays served as financial advisor to Benefitfocus, the target, also in a lead capacity. Each advisor is paired with its respective legal counsel in the source material.
On the legal side, Cleary Gottlieb Steen & Hamilton LLP served as legal counsel to Voya, the acquirer, while Sullivan & Cromwell LLP served as legal counsel to Benefitfocus, the target.
Beyond the cash consideration implied by the cash acquisition subtype, with a disclosed deal value of $570,000,000, no further detail on per-share pricing or financing sources is provided in the facts block.
Several items are not disclosed in the available record. No sector classification beyond 'tech' distinguishes any further nuance, and no additional structural detail beyond the cash acquisition designation is given. No expected closing date or further timeline detail beyond the January 2023 filing date and pending-regulatory status is provided.