Jul. 16 at 2:17 PM
Voya Financial has attracted informal acquisition interest in recent weeks, according to Semafor, although there are currently no active discussions and neither management nor the board is pursuing a transaction. Principal Financial was identified as one of the interested parties after expressing interest earlier this year, but its initial approach did not progress into formal talks. Sources familiar with the matter said Principal could revisit a potential deal in the future. The reported interest predates an activist campaign at Voya and highlights ongoing consolidation trends in the financial services and retirement services industries. Voya, which has a market value of about
$9 billion, manages approximately
$350 billion in assets, while Principal, valued at roughly
$25 billion, oversees about
$770 billion in assets.
$VOYA $PFG