{"id":724819,"date":"2023-01-20T16:18:14","date_gmt":"2023-01-20T21:18:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/benefitfocus-shareholders-approve-merger-with-voya-financial\/"},"modified":"2023-01-20T16:18:14","modified_gmt":"2023-01-20T21:18:14","slug":"benefitfocus-shareholders-approve-merger-with-voya-financial","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/benefitfocus-shareholders-approve-merger-with-voya-financial\/","title":{"rendered":"Benefitfocus Shareholders Approve Merger with Voya Financial"},"content":{"rendered":"<div class=\"mw_release\">\n<p>CHARLESTON, S.C., Jan.  20, 2023  (GLOBE NEWSWIRE) &#8212; Benefitfocus, Inc. (NASDAQ: BNFT) announced that at a special meeting today, Benefitfocus\u2019s stockholders approved the previously announced merger agreement related to the proposed acquisition of Benefitfocus by Voya Financial, Inc. 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.<\/p>\n<p>The transaction remains subject to certain closing conditions and is expected to close on January 24, 2023.<\/p>\n<p>\n        <strong>About\u00a0Benefitfocus<\/strong>\u00a0<br \/>Benefitfocus is a cloud-based benefits administration technology company committed to helping organizations, and the people they serve, get the most out of their health care and benefit programs.\u00a0 Through exceptional service and innovative SaaS solutions, we aim to be the safest set of hands for our customers helping to simplify the complexity of benefits administration while delivering an experience that engages people and unlocks the potential for better health and improved outcomes. \u202fOur mission is simple: to improve lives with benefits.<\/p>\n<p>\n        <strong><br \/>\n          <u>Cautionary Statement Regarding Forward-Looking Statements <\/u><br \/>\n        <\/strong>\n      <\/p>\n<p>Certain statements in this communication may constitute \u201cforward-looking statements\u201d within the meaning of Section\u00a027A of the Securities Act of 1933 and Section\u00a021E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements are often identified by the use of words such as, but not limited to, \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccan,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cwill,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cseek,\u201d \u201cshould,\u201d \u201ctarget,\u201d \u201cwould,\u201d and similar expressions or variations intended to identify forward-looking statements. These statements are based on the beliefs and assumptions of our management based on information currently available to management.<\/p>\n<p>Such forward-looking statements are subject to risks, uncertainties and other important factors that could cause actual results and the timing of certain events to differ materially from future results expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include the following: (i)\u00a0conditions to the completion of the proposed transaction, might not be satisfied on the terms expected or on the anticipated schedule; (ii)\u00a0the occurrence of any event, change or other circumstance that could give rise to the termination of the Agreement and Plan of Merger, dated as of November 1, 2022, as amended and restated by the Amended and Restated Merger Agreement, dated as of December 19, 2022 (the \u201cAmended and Restated Merger Agreement\u201d), between Benefitfocus, Inc., Voya Financial, Inc. and Origami Squirrel Acquisition Corp, to the proposed transaction; (iii)\u00a0the effect of the announcement or pendency of the proposed transaction on Benefitfocus\u2019s customers, suppliers, business relationships, operating results and business generally; (iv)\u00a0the risk that the proposed transaction disrupts Benefitfocus\u2019s current plans and operations and the potential difficulties in Benefitfocus\u2019s employee retention as a result of the proposed transaction; (v)\u00a0the risk related to diverting management\u2019s attention from our ongoing business operations; (vi)\u00a0potential litigation that may be instituted against Benefitfocus or its directors or officers related to the proposed transaction or the Amended and Restated Merger Agreement between the parties to the proposed transaction; (vii)\u00a0the amount of the costs, fees, expenses and other charges related to the proposed transaction; (viii)\u00a0the risk that the proposed transaction will not be consummated in a timely manner; and (ix)\u00a0such other factors as are set forth in Benefitfocus\u2019s periodic public filings with the SEC, including but not limited to those described under the headings \u201cRisk Factors\u201d and \u201cForward Looking Statements\u201d in its Form\u00a010-K, as amended for the fiscal year ended December\u00a031, 2021 and in its other filings made with the SEC from time to time, which are available via the SEC\u2019s website at <em>www.sec.gov<\/em>.<\/p>\n<p>Benefitfocus\u2019s forward-looking statements speak only as of the date of this communication or as of the date they are made. Benefitfocus disclaims any intent or obligation to update any \u201cforward looking statement\u201d made in this communication to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.<\/p>\n<p>Media Contact:\u00a0<br \/>Maurissa Kanter<br \/>843-981-8859\u00a0<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=lt7BZVkbi4Z9Tw5RqaCVa3TuhbsAIUTSx5g7zf2-AHOVlI6FFjsPSBgaZKdAq8YJdrKJc5ms2IXf3h-XTTRvL37OPrIcywU87ICwvqrOtbe8SrWnn315AIfKSX9ZhGD9pG0LFU4klUKc0tU2n4IhL_KmOj5r9sqy0BJs8uq8NP-frG_vNFrzhxgX6qsEQUtgEwZo2MbkCsm8pSxvbMT0aIDvuE3072SEZvDDBrsYEKMYnIpUJ_rX-0pppRHMbDIh\" rel=\"nofollow noopener\" target=\"_blank\">pr@benefitfocus.com<\/a><\/p>\n<p>Investor Relations:\u00a0<br \/>Doug Kuckelman\u00a0<br \/>843-790-7460\u00a0<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=OyjS0m-OvTT6JYcoASMLwfoYSw3Z4NhgYzhCCmAqRN2MT1iv0Ktk0Fe5a3G35rhQHgy3bZlDULGIYox-mwkIDym4r4iK81fTB_LuZCGl9YTMDI3HiQTKGFwIh_vpeqXe009okkJ-uM72Pkt3eE-xap65AZpU5m7WCImBJo0kskdZMj_c8gkRxofENy1cJiq73aGnk7tvbAZAjnn-0Le2WuUGz7M1kcGeb9sdQus2Xov9ZMUDtHPUU9fNS4PzswZp\" rel=\"nofollow noopener\" target=\"_blank\">ir@benefitfocus.com<\/a><\/p>\n<p>Source:\u00a0Benefitfocus, Inc.<\/p>\n<p>\u00a0<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODczMzcwOCM1MzY2MzIwIzIwMjczOTA=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/MDk5ZDYxNjQtYmE0OC00YWU2LTgxYjEtYjAyODVkODk4YTZiLTEwMzgyNjE=\/tiny\/Benefitfocus-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CHARLESTON, S.C., Jan. 20, 2023 (GLOBE NEWSWIRE) &#8212; Benefitfocus, Inc. (NASDAQ: BNFT) announced that at a special meeting today, Benefitfocus\u2019s stockholders approved the previously announced merger agreement related to the proposed acquisition of Benefitfocus by Voya Financial, Inc. 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. About\u00a0Benefitfocus\u00a0Benefitfocus is a cloud-based benefits administration technology company committed to helping organizations, and the people they serve, get the most out of their health care and benefit programs.\u00a0 Through &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/benefitfocus-shareholders-approve-merger-with-voya-financial\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Benefitfocus Shareholders Approve Merger with Voya Financial&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-724819","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Benefitfocus Shareholders Approve Merger with Voya Financial - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/benefitfocus-shareholders-approve-merger-with-voya-financial\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Benefitfocus Shareholders Approve Merger with Voya Financial - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"CHARLESTON, S.C., Jan. 20, 2023 (GLOBE NEWSWIRE) &#8212; Benefitfocus, Inc. (NASDAQ: BNFT) announced that at a special meeting today, Benefitfocus\u2019s stockholders approved the previously announced merger agreement related to the proposed acquisition of Benefitfocus by Voya Financial, Inc. 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. 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