Benefitfocus shareholders approve Voya Financial merger

Benefitfocus (BNFT) announced that at a special meeting, Benefitfocus’s stockholders approved the previously announced merger agreement related to the proposed acquisition of Benefitfocus by Voya Financial (VOYA). Subject to the terms and conditions of the merger agreement, at the effective time of the merger, each share of Benefitfocus common stock will be cancelled and converted into the right to receive $10.50 in cash. The transaction remains subject to certain closing conditions and is expected to close on January 24, 2023.