Key facts
- Activist investor Toms Capital urged Voya Financial to explore strategic options, including a potential sale.
- Toms Capital cited "management's strategic indecisiveness and diminished credibility" and "persistent underperformance" as reasons for Voya's discount to peers.
- Toms Capital is a large shareholder in Voya Financial.
- This is a renewal of a similar request made by Toms Capital in January.
- Voya Financial oversees about $1.1 trillion in assets under management and administration.
Activist investors often take stakes in companies and push for changes they believe will unlock shareholder value. This can include advocating for mergers, acquisitions, divestitures, or changes in management and strategy. Toms Capital's renewed call for Voya Financial to consider a sale is part of this ongoing strategy, highlighting concerns about the company's valuation and management's credibility.